Globavend (NASDAQ:GVH) Stock Rating Upgraded by Wall Street Zen

Globavend (NASDAQ:GVH) was upgraded by stock analysts at Wall Street Zen to a “sell” rating in a research note issued on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings cut shares of Globavend from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, September 1st. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Reduce”.

Globavend Price Performance

Shares of Globavend stock opened at $1.29 on Friday. Globavend has a 12-month low of $0.87 and a 12-month high of $6.46. The stock has a 50 day moving average price of $1.40 and a two-hundred day moving average price of $2.63.

Hedge Funds Weigh In On Globavend

A hedge fund recently bought a new stake in Globavend stock. Sabby Management LLC bought a new stake in shares of Globavend Holdings Limited (NASDAQ:GVH) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 178,645 shares of the company’s stock, valued at approximately $257,000. Globavend accounts for approximately 0.4% of Sabby Management LLC’s investment portfolio, making the stock its 14th biggest holding. Sabby Management LLC owned about 255.21% of Globavend at the end of the most recent quarter.

About Globavend

Globavend Holdings Limited is an e-commerce logistics company that provides supply-chain and delivery services for online retailers and other businesses. Through its operating subsidiaries, the company supports the movement of goods across international and domestic markets.

Its services include freight forwarding, customs clearance, warehousing, order fulfillment and last-mile delivery. Globavend focuses primarily on cross-border e-commerce logistics and serves customers connected with the Australian and New Zealand markets, according to company filings.

Globavend Holdings Limited is incorporated in the Cayman Islands, while its operating activities are conducted through subsidiaries in Australia.