Globavend Holdings Limited (NASDAQ:GVH – Get 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”.
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Hedge Funds Weigh In On Globavend
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
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.
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