Globavend (NASDAQ:GVH) Rating Increased to Sell at Wall Street Zen

Wall Street Zen upgraded shares of Globavend (NASDAQ:GVH) to a sell rating in a research note issued to investors on Saturday,Wall Street Zen reports.

Separately, Weiss Ratings downgraded shares of 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce”.

Globavend Price Performance

Shares of GVH opened at $1.29 on Friday. The firm has a fifty day simple moving average of $1.40 and a two-hundred day simple moving average of $2.62. Globavend has a twelve month low of $0.87 and a twelve month high of $6.46.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Globavend stock. Connective Capital Management LLC bought a new position in Globavend Holdings Limited (NASDAQ:GVH) in the 4th quarter, according to its most recent disclosure 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 quarter.

About Globavend

Globavend Holdings Limited is an e-commerce logistics company that provides supply-chain and delivery services for online retailers and other businesses. Through its operating subsidiaries, the company supports the movement of goods across international and domestic markets.

Its services include freight forwarding, customs clearance, warehousing, order fulfillment and last-mile delivery. Globavend focuses primarily on cross-border e-commerce logistics and serves customers connected with the Australian and New Zealand markets, according to company filings.

Globavend Holdings Limited is incorporated in the Cayman Islands, while its operating activities are conducted through subsidiaries in Australia.