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

Globavend Holdings Limited (NASDAQ:GVHGet Free Report) was the target of a significant decline in short interest in the month of August. As of August 31st, there was short interest totaling 61,674 shares, a decline of 42.6% from the August 15th total of 107,527 shares. Currently, 1.4% of the company’s shares are short sold. Based on an average daily trading volume, of 111,063 shares, the short-interest ratio is currently 0.6 days.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded Globavend from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, September 1st. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Globavend presently has an average rating of “Reduce”.

Get Our Latest Stock Report on GVH

Hedge Funds Weigh In On Globavend

A hedge fund recently bought a new position in Globavend stock. Connective Capital Management LLC bought a new stake in Globavend Holdings Limited (NASDAQ:GVHFree Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 175,827 shares of the company’s stock, valued at approximately $253,000. Connective Capital Management LLC owned 251.18% of Globavend at the end of the most recent reporting period.

Globavend Stock Down 10.9%

Shares of Globavend stock traded down $0.14 during trading on Wednesday, reaching $1.15. 249,558 shares of the company traded hands, compared to its average volume of 1,140,230. 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 $1.58 and a 200-day moving average price of $2.63.

Globavend Company Profile

(Get Free Report)

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.

Further Reading

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