Globavend Holdings Limited (NASDAQ:GVH) Sees Large Decline in Short Interest

Globavend Holdings Limited (NASDAQ:GVH) was the target of a large decrease in short interest in April. As of April 15th, there was short interest totaling 109,561 shares, a decrease of 82.5% from the March 31st total of 624,590 shares. Currently, 7.2% of the company’s shares are short sold. Based on an average trading volume of 463,906 shares, the days-to-cover ratio is currently 0.2 days.

Analysts Set New Price Targets

Several brokerages recently commented on GVH. Zacks Research upgraded shares of Globavend from a “strong sell” rating to a “hold” rating in a research report on Monday, January 26th. Weiss Ratings reiterated a “sell (d)” rating on shares of Globavend in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $80.00.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in GVH. Connective Capital Management LLC acquired a new position in shares of Globavend during the 4th quarter worth $253,000. Sabby Management LLC acquired a new position in shares of Globavend during the 4th quarter worth $257,000. Finally, Jane Street Group LLC acquired a new position in shares of Globavend during the 2nd quarter worth $29,000.

Globavend Stock Up 17.6%

Globavend stock traded up $0.55 during trading hours on Friday, hitting $3.67. The company had a trading volume of 84,248 shares, compared to its average volume of 702,789. The firm’s fifty day moving average is $1.75 and its 200-day moving average is $2.66. Globavend has a fifty-two week low of $0.87 and a fifty-two week high of $364.00.

Globavend (NASDAQ:GVH) last released its quarterly earnings data on Friday, February 13th. The company reported ($2.20) earnings per share for the quarter. The business had revenue of $4.92 million for the quarter. On average, research analysts predict that Globavend will post 0.66 EPS for the current fiscal year.

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.