Short Interest in Globavend Holdings Limited (NASDAQ:GVH) Decreases By 59.9%

Globavend Holdings Limited (NASDAQ:GVH) was the target of a significant decline in short interest in the month of August. As of August 14th, there was short interest totaling 107,527 shares, a decline of 59.9% from the July 30th total of 268,265 shares. Approximately 2.5% of the shares of the company are short sold. Based on an average daily trading volume, of 569,618 shares, the short-interest ratio is currently 0.2 days.

Globavend Price Performance

Shares of Globavend stock remained flat at $1.01 on Friday. 131,966 shares of the stock traded hands, compared to its average volume of 417,054. Globavend has a twelve month low of $0.87 and a twelve month high of $6.46. The business has a 50 day simple moving average of $2.33 and a 200-day simple moving average of $2.62.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Wall Street Zen raised Globavend to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings reissued a “sell (d+)” rating on shares of Globavend in a report on Monday, August 17th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Globavend presently has a consensus rating of “Reduce”.

Hedge Funds Weigh In On Globavend

Several hedge funds have recently modified their holdings of GVH. Jane Street Group LLC bought a new stake in shares of Globavend in the 2nd quarter worth $29,000. Connective Capital Management LLC acquired a new position in Globavend during the fourth quarter worth about $253,000. Finally, Sabby Management LLC acquired a new position in Globavend during the fourth quarter worth about $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.