Globavend Holdings Limited (NASDAQ:GVH) Short Interest Down 68.0% in January

Globavend Holdings Limited (NASDAQ:GVH) was the target of a significant decrease in short interest during the month of January. As of January 15th, there was short interest totaling 62,683 shares, a decrease of 68.0% from the December 31st total of 195,961 shares. Approximately 89.5% of the company’s stock are sold short. Based on an average daily trading volume, of 254,761 shares, the days-to-cover ratio is currently 0.2 days. Based on an average daily trading volume, of 254,761 shares, the days-to-cover ratio is currently 0.2 days. Approximately 89.5% of the company’s stock are sold short.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Weiss Ratings restated 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. One analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Globavend has an average rating of “Hold” and an average price target of $80.00.

Institutional Investors Weigh In On Globavend

A hedge fund recently bought a new stake in Globavend stock. Jane Street Group LLC bought a new stake in shares of Globavend Holdings Limited (NASDAQ:GVH) during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 249,145 shares of the company’s stock, valued at approximately $29,000. Jane Street Group LLC owned about 355.92% of Globavend as of its most recent filing with the SEC.

Globavend Stock Performance

Shares of GVH stock traded up $0.05 on Wednesday, reaching $1.29. 53,700 shares of the stock were exchanged, compared to its average volume of 193,885. The business’s 50 day moving average price is $2.64 and its 200 day moving average price is $4.50. Globavend has a twelve month low of $1.09 and a twelve month high of $364.00.

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.