Globavend Holdings Limited (NASDAQ:GVH) Short Interest Update

Globavend Holdings Limited (NASDAQ:GVH) saw a significant drop in short interest in May. As of May 15th, there was short interest totaling 51,503 shares, a drop of 43.8% from the April 30th total of 91,657 shares. Based on an average daily trading volume, of 125,007 shares, the days-to-cover ratio is presently 0.4 days. Approximately 3.4% of the shares of the stock are short sold.

Globavend Price Performance

Globavend stock traded down $0.55 during mid-day trading on Tuesday, hitting $4.34. The stock had a trading volume of 9,465 shares, compared to its average volume of 1,202,559. The stock has a 50-day simple moving average of $3.36 and a two-hundred day simple moving average of $2.55. Globavend has a 12 month low of $0.87 and a 12 month high of $357.00.

Globavend (NASDAQ:GVH) last posted its quarterly earnings results on Friday, February 13th. The company reported ($2.20) earnings per share (EPS) for the quarter. The company had revenue of $4.92 million during the quarter. As a group, research analysts anticipate that Globavend will post 0.66 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on GVH shares. Weiss Ratings upgraded Globavend from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, May 20th. Wall Street Zen upgraded Globavend to a “hold” rating in a research note on Saturday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $80.00.

Hedge Funds Weigh In On Globavend

Several hedge funds have recently added to or reduced their stakes in GVH. Jane Street Group LLC bought a new position in Globavend in the second quarter valued at about $29,000. Sabby Management LLC bought a new position in Globavend during the fourth quarter worth about $257,000. Finally, Connective Capital Management LLC bought a new position in Globavend during the fourth quarter worth about $253,000.

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.