Globavend Holdings Limited (NASDAQ:GVH) Short Interest Down 82.5% in April
by Michael Walen · The Markets DailyGlobavend Holdings Limited (NASDAQ:GVH – Get Free Report) was the target of a significant decline in short interest in April. As of April 15th, there was short interest totaling 109,561 shares, a decline of 82.5% from the March 31st total of 624,590 shares. Approximately 7.2% of the company’s stock are sold short. Based on an average daily volume of 463,906 shares, the days-to-cover ratio is currently 0.2 days.
Globavend Stock Performance
NASDAQ GVH traded up $0.55 on Friday, hitting $3.67. 84,248 shares of the stock were exchanged, compared to its average volume of 1,914,473. The business’s fifty day moving average is $1.75 and its 200 day moving average is $2.70. Globavend has a 52 week low of $0.87 and a 52 week high of $364.00.
Globavend (NASDAQ:GVH – Get Free Report) last posted its quarterly earnings results on Friday, February 13th. The company reported ($2.20) earnings per share (EPS) for the quarter. The business had revenue of $4.92 million for the quarter. As a group, research analysts anticipate that Globavend will post 0.66 EPS for the current year.
Analysts Set New Price Targets
A number of analysts have recently commented on GVH shares. Weiss Ratings reissued a “sell (d)” rating on shares of Globavend in a research report on Tuesday. Zacks Research raised shares of Globavend from a “strong sell” rating to a “hold” rating in a research report on Monday, January 26th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $80.00.
Read Our Latest Report on Globavend
Institutional Trading of Globavend
Several institutional investors and hedge funds have recently added to or reduced their stakes in GVH. Jane Street Group LLC bought a new stake in Globavend during the second quarter worth $29,000. Connective Capital Management LLC bought a new stake in Globavend during the fourth quarter worth $253,000. Finally, Sabby Management LLC bought a new stake in Globavend during the fourth quarter worth $257,000.
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. 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.