Globavend (NASDAQ:GVH) Cut to Strong Sell at Zacks Research

Zacks Research cut shares of Globavend (NASDAQ:GVH) from a hold rating to a strong sell rating in a report issued on Wednesday morning,Zacks.com reports.

A number of other equities research analysts have also commented on GVH. Wall Street Zen lowered Globavend from a “buy” rating to a “hold” rating in a research report on Sunday, September 7th. Weiss Ratings reiterated a “sell (d)” rating on shares of Globavend in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $80.00.

Globavend Price Performance

Shares of Globavend stock opened at $3.85 on Wednesday. Globavend has a 52 week low of $3.61 and a 52 week high of $364.00. The business has a 50 day moving average price of $4.75 and a 200-day moving average price of $69.31.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Globavend stock. Jane Street Group LLC acquired a new stake in Globavend Holdings Limited (NASDAQ:GVH) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 249,145 shares of the company’s stock, valued at approximately $29,000. Jane Street Group LLC owned 355.92% of Globavend at the end of the most recent reporting period.

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.