Short Interest in Globavend Holdings Limited (NASDAQ:GVH) Drops By 43.8%

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of GVH. Jane Street Group LLC bought a new position in Globavend during the 2nd quarter valued at approximately $29,000. Sabby Management LLC bought a new position in Globavend during the 4th quarter valued at approximately $257,000. Finally, Connective Capital Management LLC bought a new position in Globavend during the 4th quarter valued at approximately $253,000.

Globavend Trading Up 4.8%

Shares of NASDAQ GVH traded up $0.21 during midday trading on Thursday, reaching $4.54. The company had a trading volume of 4,797 shares, compared to its average volume of 1,180,078. Globavend has a one year low of $0.87 and a one year high of $357.00. The firm’s fifty day moving average price is $3.50 and its 200-day moving average price is $2.55.

Globavend (NASDAQ:GVH) last released its earnings results on Friday, February 13th. The company reported ($2.20) earnings per share for the quarter. The firm had revenue of $4.92 million during the quarter. As a group, sell-side analysts forecast that Globavend will post 0.66 EPS for the current year.

Wall Street Analysts Forecast Growth

GVH has been the subject of a number of analyst reports. Weiss Ratings raised Globavend from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, May 20th. Wall Street Zen raised Globavend to a “hold” rating in a research note on Saturday, May 9th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Globavend has a consensus rating of “Hold” and an average price target 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.