Global-e Online Sees Unusually Large Options Volume (NASDAQ:GLBE)

Global-e Online Ltd. (NASDAQ:GLBE) was the target of unusually large options trading on Friday. Traders purchased 4,043 call options on the company. This is an increase of approximately 169% compared to the typical daily volume of 1,504 call options.

Wall Street Analyst Weigh In

Several analysts recently weighed in on GLBE shares. Bank of America restated a “buy” rating on shares of Global-e Online in a report on Wednesday, February 18th. Wall Street Zen upgraded shares of Global-e Online from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. KeyCorp cut their target price on shares of Global-e Online from $45.00 to $40.00 and set an “overweight” rating on the stock in a research report on Thursday, February 19th. Piper Sandler restated an “overweight” rating on shares of Global-e Online in a report on Thursday, February 19th. Finally, Zacks Research raised shares of Global-e Online from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 19th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $47.80.

Global-e Online Trading Up 0.7%

GLBE opened at $34.78 on Friday. The firm has a market cap of $5.90 billion, a price-to-earnings ratio of 94.00 and a beta of 1.24. Global-e Online has a 12 month low of $26.64 and a 12 month high of $43.21. The stock has a fifty day moving average price of $35.85 and a 200-day moving average price of $36.44.

Hedge Funds Weigh In On Global-e Online

A number of large investors have recently added to or reduced their stakes in GLBE. IFP Advisors Inc lifted its position in shares of Global-e Online by 73.3% during the third quarter. IFP Advisors Inc now owns 1,059 shares of the company’s stock valued at $38,000 after buying an additional 448 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of Global-e Online in the 4th quarter worth approximately $39,000. Virtus Advisers LLC bought a new position in shares of Global-e Online during the 2nd quarter worth approximately $47,000. Geneos Wealth Management Inc. raised its stake in shares of Global-e Online by 67.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,314 shares of the company’s stock worth $47,000 after acquiring an additional 528 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in Global-e Online by 780.7% during the second quarter. Tower Research Capital LLC TRC now owns 1,823 shares of the company’s stock valued at $61,000 after acquiring an additional 1,616 shares during the last quarter. 94.60% of the stock is currently owned by institutional investors.

About Global-e Online

Global-e Online Ltd. (NASDAQ: GLBE) is a leading cross-border e-commerce platform that enables online merchants to expand sales internationally. The company’s cloud-based solution integrates with major e-commerce systems to offer localized checkout experiences, dynamic currency conversion, import duties and taxes calculation, fraud prevention, and compliance with local trade regulations. By managing the end-to-end complexities of global transactions, Global-e helps retailers streamline their international operations and deliver a seamless shopping experience to customers worldwide.

Central to Global-e’s offering is a comprehensive suite of services that includes customizable checkout in the buyer’s local language, real-time display of prices in over 140 currencies, support for region-specific payment methods, and transparent calculation of duties and taxes at point of sale.