Globavend Holdings Limited (NASDAQ:GVH) Short Interest Update

Globavend Holdings Limited (NASDAQ:GVH) was the target of a large decrease in short interest in March. As of March 13th, there was short interest totaling 11,790 shares, a decrease of 74.7% from the February 26th total of 46,522 shares. Currently, 0.8% of the company’s stock are sold short. Based on an average daily volume of 51,135 shares, the days-to-cover ratio is currently 0.2 days. Based on an average daily volume of 51,135 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.8% of the company’s stock are sold short.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Jane Street Group LLC bought a new stake in shares of Globavend during the 2nd quarter valued at about $29,000. Connective Capital Management LLC bought a new position in Globavend in the fourth quarter worth about $253,000. Finally, Sabby Management LLC acquired a new position in Globavend in the fourth quarter valued at approximately $257,000.

Analyst Ratings Changes

GVH has been the subject of a number of research reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Globavend in a research note on Thursday, January 22nd. Zacks Research upgraded Globavend from a “strong sell” rating to a “hold” rating in a research note on Monday, January 26th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Globavend has a consensus rating of “Hold” and a consensus target price of $80.00.

Globavend Stock Performance

Globavend stock traded up $0.06 during mid-day trading on Wednesday, reaching $0.98. The company’s stock had a trading volume of 5,305 shares, compared to its average volume of 1,360,890. Globavend has a twelve month low of $0.87 and a twelve month high of $364.00. The business has a 50 day moving average price of $1.14 and a 200-day moving average price of $3.05.

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.