Globavend Holdings Limited (NASDAQ:GVH) Short Interest Update

Globavend Holdings Limited (NASDAQ:GVH) saw a significant decline in short interest during the month of May. As of May 15th, there was short interest totaling 51,503 shares, a decline of 43.8% from the April 30th total of 91,657 shares. Based on an average daily trading volume, of 125,007 shares, the days-to-cover ratio is presently 0.4 days. Approximately 3.4% of the shares of the company are sold short.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Weiss Ratings upgraded Globavend from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, May 20th. Wall Street Zen upgraded Globavend to a “hold” rating in a research note on Saturday, May 9th. One analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $80.00.

Globavend Stock Performance

Globavend stock traded down $0.55 during mid-day trading on Tuesday, hitting $4.34. 9,465 shares of the company were exchanged, compared to its average volume of 1,202,559. The business has a fifty day moving average of $3.36 and a 200 day moving average of $2.55. Globavend has a 1-year low of $0.87 and a 1-year high of $357.00.

Globavend (NASDAQ:GVH) last issued its earnings results on Friday, February 13th. The company reported ($2.20) EPS for the quarter. The firm had revenue of $4.92 million for the quarter. As a group, analysts anticipate that Globavend will post 0.66 EPS for the current fiscal year.

Institutional Investors Weigh In On Globavend

Several institutional investors and hedge funds have recently made changes to their positions in the company. Connective Capital Management LLC acquired a new stake in shares of Globavend in the 4th quarter valued at $253,000. Sabby Management LLC acquired a new stake in shares of Globavend in the 4th quarter valued at $257,000. Finally, Jane Street Group LLC acquired a new stake in shares of Globavend in the 2nd quarter valued at $29,000.

Globavend Company Profile

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.