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

Globavend Holdings Limited (NASDAQ:GVH) saw a significant decrease in short interest in February. As of February 13th, there was short interest totaling 11,149 shares, a decrease of 60.3% from the January 29th total of 28,103 shares. Based on an average daily volume of 50,439 shares, the short-interest ratio is presently 0.2 days. Approximately 0.7% of the shares of the stock are sold short. Approximately 0.7% of the shares of the stock are sold short. Based on an average daily volume of 50,439 shares, the short-interest ratio is presently 0.2 days.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Weiss Ratings restated a “sell (d)” rating on shares of Globavend in a research report on Thursday, January 22nd. Zacks Research raised shares of Globavend from a “strong sell” rating to a “hold” rating in a research note on Monday, January 26th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $80.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Jane Street Group LLC purchased a new stake in Globavend in the second quarter valued at approximately $29,000. Sabby Management LLC purchased a new position in Globavend during the fourth quarter worth approximately $257,000. Finally, Connective Capital Management LLC acquired a new position in shares of Globavend in the 4th quarter valued at $253,000.

Globavend Price Performance

Shares of NASDAQ:GVH traded up $0.01 during midday trading on Friday, reaching $1.19. The company’s stock had a trading volume of 64,851 shares, compared to its average volume of 1,968,263. The business has a 50 day moving average price of $1.50 and a 200 day moving average price of $3.53. Globavend has a 1 year low of $0.88 and a 1 year high of $364.00.

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.