Globavend Holdings Limited (NASDAQ:GVH) Sees Significant Growth in Short Interest

Globavend Holdings Limited (NASDAQ:GVH) was the target of a significant growth in short interest in February. As of February 27th, there was short interest totaling 46,522 shares, a growth of 317.3% from the February 12th total of 11,149 shares. Currently, 3.0% of the company’s stock are sold short. Based on an average daily volume of 7,900,865 shares, the days-to-cover ratio is presently 0.0 days. Based on an average daily volume of 7,900,865 shares, the days-to-cover ratio is presently 0.0 days. Currently, 3.0% of the company’s stock are sold short.

Hedge Funds Weigh In On Globavend

Several institutional investors have recently bought and sold shares of the stock. Jane Street Group LLC acquired a new position in Globavend during the second quarter valued at approximately $29,000. Sabby Management LLC bought a new position in Globavend in the 4th quarter worth $257,000. Finally, Connective Capital Management LLC bought a new position in Globavend in the 4th quarter worth $253,000.

Globavend Stock Performance

Globavend stock opened at $1.12 on Friday. Globavend has a 1-year low of $0.88 and a 1-year high of $364.00. The firm’s fifty day simple moving average is $1.20 and its 200-day simple moving average is $3.27.

Analysts Set New Price Targets

A number of research firms have issued reports on GVH. Weiss Ratings reiterated a “sell (d)” rating on shares of Globavend in a research report on Thursday, January 22nd. Zacks Research upgraded Globavend from a “strong sell” rating to a “hold” rating in a research note on Monday, January 26th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $80.00.

Globavend Company Profile

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.