Globant S.A. (NYSE:GLOB) Sees Large Increase in Short Interest

Globant S.A. (NYSE:GLOB) was the target of a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 2,310,000 shares, an increase of 11.6% from the December 15th total of 2,070,000 shares. Based on an average daily volume of 438,300 shares, the short-interest ratio is currently 5.3 days.

Institutional Investors Weigh In On Globant

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quarry LP lifted its position in Globant by 529.6% during the 2nd quarter. Quarry LP now owns 170 shares of the information technology services provider’s stock worth $30,000 after acquiring an additional 143 shares during the last quarter. ORG Partners LLC increased its stake in shares of Globant by 65.5% in the third quarter. ORG Partners LLC now owns 192 shares of the information technology services provider’s stock worth $38,000 after purchasing an additional 76 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of Globant during the 3rd quarter worth about $40,000. American National Bank & Trust boosted its stake in Globant by 430.2% during the 3rd quarter. American National Bank & Trust now owns 228 shares of the information technology services provider’s stock valued at $45,000 after purchasing an additional 185 shares during the period. Finally, Signaturefd LLC grew its holdings in Globant by 46.0% in the 3rd quarter. Signaturefd LLC now owns 292 shares of the information technology services provider’s stock valued at $58,000 after buying an additional 92 shares during the last quarter. 91.60% of the stock is currently owned by institutional investors and hedge funds.

Globant Stock Performance

Shares of NYSE GLOB traded down $3.40 during trading hours on Friday, hitting $213.48. The stock had a trading volume of 353,326 shares, compared to its average volume of 310,224. The company has a market capitalization of $9.20 billion, a P/E ratio of 55.74, a P/E/G ratio of 2.26 and a beta of 1.38. The firm’s 50-day moving average price is $220.21 and its two-hundred day moving average price is $206.88. Globant has a 52 week low of $151.68 and a 52 week high of $251.50.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on GLOB shares. Scotiabank boosted their price objective on Globant from $210.00 to $220.00 and gave the stock a “sector perform” rating in a research report on Tuesday, November 19th. Canaccord Genuity Group restated a “hold” rating and issued a $205.00 target price on shares of Globant in a research report on Monday, November 18th. Needham & Company LLC lifted their price target on Globant from $245.00 to $265.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Citigroup lifted their target price on Globant from $240.00 to $251.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Finally, TD Cowen raised their price objective on shares of Globant from $230.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, November 15th. One analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $230.44.

Globant Company Profile

Globant SA, together with its subsidiaries, provides technology services worldwide. It provides digital solutions comprising blockchain, cloud technologies, cybersecurity, data and artificial intelligence, digital experience and performance, code, Internet of Things, metaverse, and engineering and testing; and enterprise technology solutions and services, such as Agile organization, Cultural Hacking, process optimization services, as well as AWS, Google Cloud, Microsoft, Oracle, SalesForce, SAP, and ServiceNow technology solutions.