Global-E Online Ltd. (NASDAQ:GLBE) Short Interest Down 9.5% in October

Global-E Online Ltd. (NASDAQ:GLBE) was the target of a significant decline in short interest in October. As of October 31st, there was short interest totalling 7,980,000 shares, a decline of 9.5% from the October 15th total of 8,820,000 shares. Based on an average trading volume of 926,100 shares, the short-interest ratio is currently 8.6 days. Currently, 8.4% of the shares of the stock are short sold.

Global-E Online Trading Up 2.0 %

Shares of GLBE traded up $0.83 during mid-day trading on Tuesday, reaching $41.65. 426,343 shares of the company’s stock traded hands, compared to its average volume of 1,084,672. The stock’s 50-day moving average is $38.28 and its two-hundred day moving average is $34.85. Global-E Online has a 12 month low of $28.11 and a 12 month high of $43.52.

Institutional Trading of Global-E Online

A number of large investors have recently modified their holdings of the company. Dragoneer Investment Group LLC boosted its holdings in shares of Global-E Online by 9.6% in the second quarter. Dragoneer Investment Group LLC now owns 14,734,024 shares of the company’s stock valued at $534,403,000 after purchasing an additional 1,288,829 shares during the period. Abdiel Capital Advisors LP boosted its holdings in shares of Global-E Online by 1.4% in the second quarter. Abdiel Capital Advisors LP now owns 6,776,495 shares of the company’s stock valued at $245,783,000 after purchasing an additional 95,741 shares during the period. Capital World Investors boosted its holdings in shares of Global-E Online by 60.5% in the first quarter. Capital World Investors now owns 4,983,485 shares of the company’s stock valued at $181,150,000 after purchasing an additional 1,877,953 shares during the period. Clearbridge Investments LLC purchased a new stake in Global-E Online during the second quarter worth $83,036,000. Finally, Brown Capital Management LLC purchased a new stake in Global-E Online during the first quarter worth $69,352,000. Hedge funds and other institutional investors own 94.60% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. KeyCorp lowered their price objective on Global-E Online from $40.00 to $38.00 and set an “overweight” rating on the stock in a research report on Thursday, August 15th. Bank of America reduced their target price on Global-E Online from $47.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Morgan Stanley cut Global-E Online from an “overweight” rating to an “equal weight” rating and set a $40.00 target price on the stock. in a report on Friday, October 18th. Needham & Company LLC reaffirmed a “buy” rating and issued a $48.00 target price on shares of Global-E Online in a report on Monday. Finally, UBS Group reduced their target price on Global-E Online from $50.00 to $48.00 and set a “buy” rating on the stock in a report on Friday, October 18th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $44.27.

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.