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

Globavend Holdings Limited (NASDAQ:GVH) was the target of a large growth in short interest in the month of July. As of July 15th, there was short interest totaling 138,570 shares, a growth of 252.9% from the June 30th total of 39,262 shares. Based on an average daily volume of 473,875 shares, the days-to-cover ratio is presently 0.3 days. Approximately 9.1% of the shares of the stock are sold short.

Globavend Price Performance

Shares of Globavend stock remained flat at $1.00 during trading on Friday. The stock had a trading volume of 544,197 shares, compared to its average volume of 2,437,482. Globavend has a 52-week low of $0.87 and a 52-week high of $7.24. The firm’s 50-day moving average price is $3.98 and its two-hundred day moving average price is $2.67.

Hedge Funds Weigh In On Globavend

Institutional investors have recently added to or reduced their stakes in the company. Jane Street Group LLC bought a new stake in Globavend in the 2nd quarter worth approximately $29,000. Sabby Management LLC purchased a new stake in shares of Globavend during the 4th quarter worth approximately $257,000. Finally, Connective Capital Management LLC purchased a new stake in shares of Globavend during the 4th quarter worth approximately $253,000.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on GVH. Wall Street Zen upgraded shares of Globavend to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings upgraded shares of Globavend from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, May 20th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Reduce”.

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.