Traders Purchase Large Volume of Call Options on Global-e Online (NASDAQ:GLBE)

Global-e Online Ltd. (NASDAQ:GLBE) saw some unusual options trading activity on Friday. Investors purchased 4,043 call options on the stock. This is an increase of approximately 169% compared to the typical volume of 1,504 call options.

Analyst Ratings Changes

GLBE has been the topic of a number of analyst reports. Zacks Research raised shares of Global-e Online from a “hold” rating to a “strong-buy” rating in a report on Friday, December 19th. Weiss Ratings reissued a “sell (d-)” rating on shares of Global-e Online in a research note on Monday, December 29th. KeyCorp decreased their target price on shares of Global-e Online from $45.00 to $40.00 and set an “overweight” rating for the company in a research report on Thursday, February 19th. Needham & Company LLC raised their price target on shares of Global-e Online from $40.00 to $47.00 and gave the company a “buy” rating in a research note on Thursday, December 4th. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of Global-e Online in a report on Thursday, February 19th. One research 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 assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $47.80.

Hedge Funds Weigh In On Global-e Online

A number of hedge funds and other institutional investors have recently made changes to their positions in GLBE. Caitong International Asset Management Co. Ltd bought a new stake in Global-e Online in the fourth quarter valued at about $39,000. IFP Advisors Inc grew its stake in shares of Global-e Online by 73.3% in the 3rd quarter. IFP Advisors Inc now owns 1,059 shares of the company’s stock valued at $38,000 after purchasing an additional 448 shares during the period. Geneos Wealth Management Inc. raised its holdings in shares of Global-e Online by 67.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,314 shares of the company’s stock worth $47,000 after buying an additional 528 shares in the last quarter. Virtus Advisers LLC bought a new position in shares of Global-e Online during the 2nd quarter worth approximately $47,000. Finally, Tower Research Capital LLC TRC boosted 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 buying an additional 1,616 shares in the last quarter. 94.60% of the stock is owned by institutional investors.

Global-e Online Stock Performance

Shares of GLBE opened at $34.78 on Friday. The firm has a market capitalization of $5.90 billion, a price-to-earnings ratio of 94.00 and a beta of 1.24. Global-e Online has a one year low of $26.64 and a one year high of $43.21. The stock’s fifty day moving average is $35.85 and its 200-day moving average is $36.48.

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.