Globavend (NASDAQ:GVH) Cut to “Strong Sell” at Zacks Research

Zacks Research downgraded shares of Globavend (NASDAQ:GVH) from a hold rating to a strong sell rating in a research note issued to investors on Monday,Zacks.com reports.

Other analysts have also recently issued reports about the company. Wall Street Zen cut Globavend from a “buy” rating to a “hold” rating in a report on Sunday. Litchfield Hills Research upgraded Globavend to a “strong-buy” rating and set a $80.00 target price on the stock in a report on Thursday, July 10th. One research analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $80.00.

Globavend Trading Up 11.2%

Shares of GVH stock opened at $4.78 on Monday. The business’s 50 day simple moving average is $7.55 and its 200 day simple moving average is $116.88. Globavend has a one year low of $3.86 and a one year high of $364.00.

Hedge Funds Weigh In On Globavend

A hedge fund recently bought a new stake in Globavend stock. Jane Street Group LLC purchased a new position in shares of Globavend Holdings Limited (NASDAQ:GVH) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 249,145 shares of the company’s stock, valued at approximately $29,000. Jane Street Group LLC owned approximately 355.92% of Globavend as of its most recent filing with the SEC.

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.