Global-E Online Ltd. (NASDAQ:GLBE) Short Interest Update

Global-E Online Ltd. (NASDAQ:GLBE) was the recipient of a significant decrease in short interest in October. As of October 31st, there was short interest totalling 7,980,000 shares, a decrease of 9.5% from the October 15th total of 8,820,000 shares. Approximately 8.4% of the company’s stock are sold short. Based on an average daily volume of 926,100 shares, the days-to-cover ratio is presently 8.6 days.

Analysts Set New Price Targets

GLBE has been the topic of a number of research analyst reports. UBS Group cut their price objective on shares of Global-E Online from $50.00 to $48.00 and set a “buy” rating on the stock in a report on Friday, October 18th. Piper Sandler reiterated a “buy” rating on shares of Global-E Online in a research note on Friday, October 18th. Morgan Stanley cut Global-E Online from an “overweight” rating to an “equal weight” rating and set a $40.00 price objective for the company. in a research note on Friday, October 18th. Needham & Company LLC reiterated a “buy” rating and issued a $48.00 target price on shares of Global-E Online in a research note on Monday. Finally, Jefferies Financial Group lifted their price objective on shares of Global-E Online from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Monday. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $44.27.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC raised its position in Global-E Online by 3.4% during the third quarter. Geode Capital Management LLC now owns 933,476 shares of the company’s stock worth $35,722,000 after acquiring an additional 30,995 shares during the last quarter. Barclays PLC raised its holdings in shares of Global-E Online by 83.2% in the third quarter. Barclays PLC now owns 29,636 shares of the company’s stock worth $1,139,000 after acquiring an additional 13,463 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Global-E Online during the third quarter valued at $2,843,000. Pier Capital LLC increased its position in Global-E Online by 15.2% during the 3rd quarter. Pier Capital LLC now owns 141,660 shares of the company’s stock worth $5,445,000 after purchasing an additional 18,646 shares in the last quarter. Finally, Main Management ETF Advisors LLC acquired a new position in Global-E Online in the 3rd quarter valued at about $1,879,000. Institutional investors and hedge funds own 94.60% of the company’s stock.

Global-E Online Stock Performance

Shares of GLBE traded up $1.69 on Tuesday, reaching $42.51. The stock had a trading volume of 1,440,085 shares, compared to its average volume of 1,089,198. The firm has a 50-day moving average of $38.28 and a 200 day moving average of $34.85. Global-E Online has a twelve month low of $28.11 and a twelve month high of $43.52.

About Global-E Online

Global-E Online Ltd., together with its subsidiaries, provides a platform to enable and accelerate direct-to-consumer cross-border e-commerce in Israel, the United Kingdom, the United States, and internationally. Its platform enables international shoppers to buy online and merchants to sell from, and to, worldwide.