Globavend Holdings Limited (NASDAQ:GVH) Short Interest Down 82.5% in April

Globavend Holdings Limited (NASDAQ:GVH) was the recipient of a significant decline in short interest during the month of April. As of April 15th, there was short interest totaling 109,561 shares, a decline of 82.5% from the March 31st total of 624,590 shares. Based on an average daily volume of 463,906 shares, the short-interest ratio is currently 0.2 days. Currently, 7.2% of the shares of the company are short sold.

Globavend Price Performance

Shares of NASDAQ:GVH traded up $0.55 on Friday, hitting $3.67. The company had a trading volume of 84,248 shares, compared to its average volume of 1,914,473. Globavend has a 1-year low of $0.87 and a 1-year high of $364.00. The stock has a 50 day moving average price of $1.75 and a 200 day moving average price of $2.70.

Globavend (NASDAQ:GVH) last released its quarterly earnings data on Friday, February 13th. The company reported ($2.20) EPS for the quarter. The business had revenue of $4.92 million for the quarter. Equities analysts expect that Globavend will post 0.66 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have commented on GVH. Weiss Ratings reiterated a “sell (d)” rating on shares of Globavend in a report on Tuesday. Zacks Research upgraded shares of Globavend from a “strong sell” rating to a “hold” rating in a report on Monday, January 26th. One research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $80.00.

Hedge Funds Weigh In On Globavend

Institutional investors and hedge funds have recently modified their holdings of the business. Connective Capital Management LLC acquired a new position in shares of Globavend in the fourth quarter valued at about $253,000. Sabby Management LLC acquired a new position in shares of Globavend in the fourth quarter valued at about $257,000. Finally, Jane Street Group LLC acquired a new position in shares of Globavend in the second quarter valued at about $29,000.

About Globavend

Globavend Holdings Limited, together with its subsidiaries, provides integrated cross-border logistics services and air freight forwarding services in Hong Kong, Australia, and New Zealand. The company's services include parcel consolidation, air freight forwarding, customs clearance, on-carriage parcel transportation, and delivery. It serves e-commerce merchants and operators of e-commerce platforms. The company was founded in 2016 and is based in Perth, Australia. Globavend Holdings Limited is subsidiary of Globavend Investments Limited.