Short Interest in Globavend Holdings Limited (NASDAQ:GVH) Grows By 93.6%

Globavend Holdings Limited (NASDAQ:GVH) was the target of a significant increase in short interest during the month of July. As of July 31st, there was short interest totaling 268,265 shares, an increase of 93.6% from the July 15th total of 138,570 shares. Currently, 17.5% of the company’s shares are sold short. Based on an average daily volume of 3,128,799 shares, the short-interest ratio is presently 0.1 days.

Wall Street Analysts Forecast Growth

GVH has been the topic of a number of analyst reports. Wall Street Zen raised Globavend to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings upgraded Globavend from a “sell (d)” rating to a “sell (d+)” rating in a 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce”.

Globavend Price Performance

Globavend stock traded up $0.01 during trading hours on Monday, hitting $1.01. The company had a trading volume of 115,740 shares, compared to its average volume of 1,241,383. Globavend has a 1 year low of $0.87 and a 1 year high of $6.46. The company has a 50-day moving average price of $2.94 and a two-hundred day moving average price of $2.64.

Institutional Trading of Globavend

Large investors have recently modified their holdings of the company. Jane Street Group LLC purchased a new position in Globavend during the 2nd quarter worth $29,000. Sabby Management LLC purchased a new stake in shares of Globavend in the 4th quarter worth $257,000. Finally, Connective Capital Management LLC purchased a new stake in shares of Globavend in the 4th quarter worth $253,000.

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.