Globavend Holdings Limited (NASDAQ:GVH) Sees Significant Increase in Short Interest

Globavend Holdings Limited (NASDAQ:GVH) was the recipient of a large increase in short interest in February. As of February 27th, there was short interest totaling 46,522 shares, an increase of 317.3% from the February 12th total of 11,149 shares. Based on an average daily volume of 7,900,865 shares, the short-interest ratio is presently 0.0 days. Currently, 3.0% of the shares of the stock are sold short. Currently, 3.0% of the shares of the stock are sold short. Based on an average daily volume of 7,900,865 shares, the short-interest ratio is presently 0.0 days.

Analyst Ratings Changes

Several equities research analysts recently commented on GVH shares. Zacks Research raised shares of Globavend from a “strong sell” rating to a “hold” rating in a report on Monday, January 26th. Weiss Ratings reissued a “sell (d)” rating on shares of Globavend in a report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $80.00.

Globavend Price Performance

Shares of NASDAQ:GVH traded down $0.05 during midday trading on Thursday, hitting $1.12. The company had a trading volume of 53,443 shares, compared to its average volume of 1,609,736. Globavend has a twelve month low of $0.88 and a twelve month high of $364.00. The business’s 50-day simple moving average is $1.21 and its 200-day simple moving average is $3.29.

Institutional Investors Weigh In On Globavend

A number of hedge funds have recently modified their holdings of the company. Jane Street Group LLC acquired a new stake in Globavend during the second quarter worth about $29,000. Connective Capital Management LLC acquired a new position in Globavend in the 4th quarter valued at about $253,000. Finally, Sabby Management LLC acquired a new position in Globavend in the 4th quarter valued at about $257,000.

About Globavend

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.