Globavend Holdings Limited (NASDAQ:GVH – Get Free Report) was the target of a significant increase in short interest in July. As of July 15th, there was short interest totaling 138,570 shares, an increase of 252.9% from the June 30th total of 39,262 shares. Approximately 9.1% of the shares of the company are sold short. Based on an average daily trading volume, of 473,875 shares, the days-to-cover ratio is currently 0.3 days.
Globavend Price Performance
Shares of GVH stock remained flat at $1.00 on Friday. 544,197 shares of the stock traded hands, compared to its average volume of 2,437,482. Globavend has a 12-month low of $0.87 and a 12-month high of $7.24. The business has a 50 day moving average price of $3.98 and a 200 day moving average price of $2.67.
Analyst Ratings Changes
Several research firms have recently commented on GVH. Weiss Ratings raised Globavend from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, May 20th. Wall Street Zen upgraded Globavend to a “hold” rating in a research note on Saturday, May 9th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Reduce”.
Institutional Investors Weigh In On Globavend
A number of institutional investors and hedge funds have recently bought and sold shares of GVH. Jane Street Group LLC bought a new position in shares of Globavend in the second quarter worth about $29,000. Connective Capital Management LLC bought a new stake in Globavend during the 4th quarter valued at approximately $253,000. Finally, Sabby Management LLC bought a new stake in Globavend during the 4th quarter valued at approximately $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.
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