Short Interest in Globavend Holdings Limited (NASDAQ:GVH) Expands By 93.6%

Globavend Holdings Limited (NASDAQ:GVH) was the recipient of a large increase in short interest in the month of July. As of July 31st, there was short interest totaling 268,265 shares, an increase of 93.6% from the July 15th total of 138,570 shares. Approximately 17.5% of the shares of the company are sold short. Based on an average daily volume of 3,128,799 shares, the short-interest ratio is presently 0.1 days.

Analyst Ratings Changes

A number of research firms have commented on GVH. Wall Street Zen upgraded shares of Globavend to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings upgraded shares of Globavend from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, May 20th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce”.

Globavend Price Performance

NASDAQ:GVH opened at $1.01 on Tuesday. Globavend has a 12-month low of $0.87 and a 12-month high of $6.46. The stock’s 50 day simple moving average is $2.87 and its 200-day simple moving average is $2.64.

Hedge Funds Weigh In On Globavend

Several institutional investors have recently bought and sold shares of GVH. Jane Street Group LLC purchased a new position in Globavend during the 2nd quarter worth $29,000. Sabby Management LLC purchased a new stake in shares of Globavend in the fourth quarter valued at about $257,000. Finally, Connective Capital Management LLC acquired a new position in shares of Globavend during the fourth quarter worth about $253,000.

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.