Globavend (NASDAQ:GVH) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Globavend (NASDAQ:GVH) to a sell rating in a report released on Saturday morning,Wall Street Zen reports.

Separately, Weiss Ratings cut Globavend from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, September 1st. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce”.

Globavend Trading Down 8.5%

NASDAQ:GVH opened at $1.18 on Friday. Globavend has a 1 year low of $0.87 and a 1 year high of $6.46. The firm has a 50 day moving average of $1.33 and a 200-day moving average of $2.63.

Institutional Investors Weigh In On Globavend

A hedge fund recently bought a new stake in Globavend stock. Connective Capital Management LLC bought a new position in Globavend Holdings Limited (NASDAQ:GVH) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 175,827 shares of the company’s stock, valued at approximately $253,000. Connective Capital Management LLC owned about 251.18% of Globavend at the end of the most recent quarter.

Globavend Company Profile

Globavend Holdings Limited is an e-commerce logistics company that provides supply-chain and delivery services for online retailers and other businesses. Through its operating subsidiaries, the company supports the movement of goods across international and domestic markets.

Its services include freight forwarding, customs clearance, warehousing, order fulfillment and last-mile delivery. Globavend focuses primarily on cross-border e-commerce logistics and serves customers connected with the Australian and New Zealand markets, according to company filings.

Globavend Holdings Limited is incorporated in the Cayman Islands, while its operating activities are conducted through subsidiaries in Australia.