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

Global-E Online Ltd. (NASDAQ:GLBE) was the recipient of a significant decline in short interest in November. As of November 15th, there was short interest totalling 7,510,000 shares, a decline of 5.9% from the October 31st total of 7,980,000 shares. Based on an average trading volume of 1,090,000 shares, the days-to-cover ratio is currently 6.9 days. Currently, 7.8% of the company’s stock are short sold.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on GLBE. Bank of America decreased their price target on Global-E Online from $47.00 to $45.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Needham & Company LLC reissued a “buy” rating and issued a $48.00 price objective on shares of Global-E Online in a research report on Monday, November 18th. Raymond James upped their price target on Global-E Online from $41.00 to $55.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Morgan Stanley cut Global-E Online from an “overweight” rating to an “equal weight” rating and set a $40.00 price objective on the stock. in a report on Friday, October 18th. Finally, Benchmark upped their target price on Global-E Online from $41.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, November 18th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Global-E Online presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.33.

Global-E Online Price Performance

GLBE traded up $0.21 on Tuesday, hitting $52.56. 157,357 shares of the company were exchanged, compared to its average volume of 1,141,221. The firm has a fifty day simple moving average of $40.60 and a two-hundred day simple moving average of $36.08. Global-E Online has a 12 month low of $28.11 and a 12 month high of $52.90.

Hedge Funds Weigh In On Global-E Online

Institutional investors and hedge funds have recently bought and sold shares of the stock. Capital Performance Advisors LLP bought a new position in Global-E Online during the 3rd quarter worth approximately $32,000. Toronto Dominion Bank purchased a new stake in Global-E Online in the 2nd quarter worth approximately $40,000. Venturi Wealth Management LLC purchased a new stake in Global-E Online in the 3rd quarter worth approximately $87,000. Quarry LP lifted its holdings in Global-E Online by 226.1% in the 3rd quarter. Quarry LP now owns 2,286 shares of the company’s stock worth $88,000 after buying an additional 1,585 shares during the period. Finally, DekaBank Deutsche Girozentrale lifted its holdings in Global-E Online by 18.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 4,010 shares of the company’s stock worth $146,000 after buying an additional 624 shares during the period. 94.60% of the stock is currently owned by institutional investors.

Global-E Online Company Profile

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.