Globavend Holdings Limited (NASDAQ:GVH) Sees Large Drop in Short Interest

Globavend Holdings Limited (NASDAQ:GVH) was the target of a significant drop in short interest in the month of January. As of January 30th, there was short interest totaling 28,103 shares, a drop of 55.2% from the January 15th total of 62,683 shares. Currently, 40.1% of the company’s stock are short sold. Based on an average daily volume of 98,789 shares, the days-to-cover ratio is presently 0.3 days. Based on an average daily volume of 98,789 shares, the days-to-cover ratio is presently 0.3 days. Currently, 40.1% of the company’s stock are short sold.

Globavend Price Performance

Globavend stock traded up $0.00 during mid-day trading on Thursday, hitting $0.90. The stock had a trading volume of 53,378 shares, compared to its average volume of 80,853. The stock has a 50-day simple moving average of $1.98 and a two-hundred day simple moving average of $3.84. Globavend has a 12 month low of $0.88 and a 12 month high of $364.00.

Institutional Trading of Globavend

A hedge fund recently bought a new stake in Globavend stock. Jane Street Group LLC bought a new stake in shares of Globavend Holdings Limited (NASDAQ:GVH) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 249,145 shares of the company’s stock, valued at approximately $29,000. Jane Street Group LLC owned about 355.92% of Globavend as of its most recent filing with the SEC.

Analyst Ratings Changes

GVH has been the topic of a number of recent research reports. Weiss Ratings restated a “sell (d)” rating on shares of Globavend in a report on Thursday, January 22nd. Zacks Research raised shares of Globavend from a “strong sell” rating to a “hold” rating in a research report on Monday, January 26th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $80.00.

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.