Short Interest in Global-E Online Ltd. (NASDAQ:GLBE) Drops By 7.5%

Global-E Online Ltd. (NASDAQ:GLBE) saw a large decrease in short interest in December. As of December 31st, there was short interest totalling 4,190,000 shares, a decrease of 7.5% from the December 15th total of 4,530,000 shares. Currently, 4.4% of the company’s stock are sold short. Based on an average trading volume of 1,220,000 shares, the short-interest ratio is currently 3.4 days.

Hedge Funds Weigh In On Global-E Online

Several hedge funds and other institutional investors have recently modified their holdings of GLBE. Fred Alger Management LLC purchased a new position in Global-E Online in the 3rd quarter worth $53,493,000. JPMorgan Chase & Co. increased its holdings in shares of Global-E Online by 40.7% in the third quarter. JPMorgan Chase & Co. now owns 1,846,479 shares of the company’s stock valued at $70,979,000 after purchasing an additional 533,675 shares during the period. Dragoneer Investment Group LLC raised its stake in shares of Global-E Online by 9.6% in the second quarter. Dragoneer Investment Group LLC now owns 14,734,024 shares of the company’s stock worth $534,403,000 after purchasing an additional 1,288,829 shares during the last quarter. Public Sector Pension Investment Board raised its stake in shares of Global-E Online by 23.8% in the third quarter. Public Sector Pension Investment Board now owns 51,950 shares of the company’s stock worth $1,997,000 after purchasing an additional 10,000 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Global-E Online by 3.4% during the third quarter. Geode Capital Management LLC now owns 933,476 shares of the company’s stock worth $35,722,000 after purchasing an additional 30,995 shares during the period. 94.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GLBE has been the subject of several research reports. UBS Group lowered their price target on shares of Global-E Online from $50.00 to $48.00 and set a “buy” rating for the company in a research report on Friday, October 18th. Benchmark upped their target price on Global-E Online from $41.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, November 18th. Morgan Stanley cut Global-E Online from an “overweight” rating to an “equal weight” rating and set a $40.00 target price on the stock. in a research report on Friday, October 18th. KeyCorp boosted their price target on Global-E Online from $38.00 to $55.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $48.00 price objective on shares of Global-E Online in a research report on Monday, November 18th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $53.25.

Global-E Online Stock Performance

NASDAQ:GLBE traded up $0.18 during mid-day trading on Friday, hitting $56.10. 866,963 shares of the company’s stock traded hands, compared to its average volume of 888,993. The company has a market capitalization of $9.21 billion, a P/E ratio of -96.72, a P/E/G ratio of 5.50 and a beta of 1.22. The company has a fifty day moving average of $52.07 and a 200 day moving average of $41.70. Global-E Online has a twelve month low of $28.11 and a twelve month high of $57.85.

Global-E Online Company Profile

Global-E Online Ltd., together with its subsidiaries, provides a platform to enable and accelerate direct-to-consumer cross-border e-commerce in Israel, the United Kingdom, the United States, and internationally. Its platform enables international shoppers to buy online and merchants to sell from, and to, worldwide.