Globavend Holdings Limited (NASDAQ:GVH) Short Interest Update

Globavend Holdings Limited (NASDAQ:GVH) was the target of a large drop in short interest in the month of February. As of February 13th, there was short interest totaling 11,149 shares, a drop of 60.3% from the January 29th total of 28,103 shares. Based on an average daily volume of 50,439 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.7% of the company’s shares are sold short. Currently, 0.7% of the company’s shares are sold short. Based on an average daily volume of 50,439 shares, the days-to-cover ratio is currently 0.2 days.

Globavend Stock Up 0.8%

NASDAQ:GVH opened at $1.19 on Friday. Globavend has a fifty-two week low of $0.88 and a fifty-two week high of $364.00. The stock’s 50-day moving average is $1.46 and its two-hundred day moving average is $3.49.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Zacks Research raised shares of Globavend from a “strong sell” rating to a “hold” rating in a research note on Monday, January 26th. Weiss Ratings restated a “sell (d)” rating on shares of Globavend in a report on Thursday, January 22nd. 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. According to MarketBeat, Globavend currently has an average rating of “Hold” and an average price target of $80.00.

Institutional Investors Weigh In On Globavend

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GVH. Connective Capital Management LLC acquired a new stake in shares of Globavend during the 4th quarter valued at $253,000. Sabby Management LLC purchased a new stake in shares of Globavend during the fourth quarter worth $257,000. Finally, Jane Street Group LLC acquired a new stake in Globavend during the second 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.