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

Global-e Online Ltd. (NASDAQ:GLBE) saw unusually large options trading activity on Tuesday. Investors bought 6,177 call options on the stock. This is an increase of 353% compared to the average volume of 1,365 call options.

Institutional Trading of Global-e Online

Several large investors have recently bought and sold shares of GLBE. Assetmark Inc. acquired a new position in Global-e Online during the first quarter worth about $45,000. Virtus Advisers LLC bought a new stake in shares of Global-e Online during the 2nd quarter valued at approximately $47,000. Geneos Wealth Management Inc. grew its holdings 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 valued at $47,000 after purchasing an additional 528 shares during the last quarter. Pacer Advisors Inc. increased its position in Global-e Online by 52.9% during the 1st quarter. Pacer Advisors Inc. now owns 1,410 shares of the company’s stock worth $50,000 after purchasing an additional 488 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in Global-e Online by 780.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,823 shares of the company’s stock valued at $61,000 after purchasing an additional 1,616 shares during the last quarter. 94.60% of the stock is owned by institutional investors and hedge funds.

Global-e Online Price Performance

NASDAQ GLBE opened at $37.01 on Wednesday. The business has a fifty day moving average price of $35.62 and a two-hundred day moving average price of $34.22. The stock has a market capitalization of $6.28 billion, a PE ratio of -217.71, a PEG ratio of 1.87 and a beta of 1.25. Global-e Online has a fifty-two week low of $26.64 and a fifty-two week high of $63.69.

Global-e Online announced that its Board of Directors has authorized a stock repurchase program on Thursday, September 4th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the company to purchase up to 3.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on GLBE shares. Zacks Research raised Global-e Online to a “hold” rating in a research report on Friday, August 8th. The Goldman Sachs Group upped their target price on Global-e Online from $39.00 to $44.00 and gave the company a “buy” rating in a research report on Monday, October 13th. Weiss Ratings reissued a “sell (d+)” rating on shares of Global-e Online in a report on Wednesday, October 8th. Finally, Benchmark reaffirmed a “buy” rating on shares of Global-e Online in a research note on Monday. Ten equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $47.91.

About Global-e Online

Global-E Online Ltd., together with its subsidiaries, provides a platform to enable and accelerate direct-to-consumer cross-border e-commerce in Israel, the United Kingdom, the United States, and internationally. Its platform enables international shoppers to buy online and merchants to sell from, and to, worldwide.