Global-E Online Ltd. (NASDAQ:GLBE) Sees Large Drop in Short Interest

Global-E Online Ltd. (NASDAQ:GLBE) saw a significant drop in short interest in the month of December. As of December 31st, there was short interest totalling 4,190,000 shares, a drop of 7.5% from the December 15th total of 4,530,000 shares. Based on an average trading volume of 1,220,000 shares, the days-to-cover ratio is currently 3.4 days. Currently, 4.4% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on GLBE. Morgan Stanley cut shares of Global-E Online from an “overweight” rating to an “equal weight” rating and set a $40.00 target price for the company. in a research report on Friday, October 18th. The Goldman Sachs Group raised their price target on shares of Global-E Online from $56.00 to $63.00 and gave the company a “buy” rating in a report on Friday, January 10th. Benchmark increased their price objective on Global-E Online from $41.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, November 18th. Piper Sandler upped their price target on Global-E Online from $63.00 to $66.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Finally, KeyCorp lifted their price objective on Global-E Online from $38.00 to $55.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Global-E Online currently has an average rating of “Moderate Buy” and an average price target of $53.25.

Institutional Trading of Global-E Online

A number of large investors have recently bought and sold shares of the business. Acadian Asset Management LLC acquired a new position in shares of Global-E Online during the second quarter worth about $220,000. American Century Companies Inc. lifted its stake in Global-E Online by 6,424.3% in the 2nd quarter. American Century Companies Inc. now owns 506,746 shares of the company’s stock valued at $18,380,000 after acquiring an additional 498,979 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its position in Global-E Online by 51.6% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 6,081 shares of the company’s stock worth $224,000 after acquiring an additional 2,071 shares during the last quarter. Oppenheimer Asset Management Inc. raised its holdings in shares of Global-E Online by 29.8% in the second quarter. Oppenheimer Asset Management Inc. now owns 14,724 shares of the company’s stock valued at $534,000 after purchasing an additional 3,383 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of Global-E Online in the second quarter worth $373,000. 94.60% of the stock is owned by institutional investors.

Global-E Online Stock Up 0.3 %

Global-E Online stock traded up $0.18 during mid-day trading on Monday, hitting $56.10. 866,963 shares of the company’s stock were exchanged, compared to its average volume of 888,993. The company’s 50 day simple moving average is $52.07 and its 200-day simple moving average is $41.70. The firm has a market capitalization of $9.21 billion, a P/E ratio of -96.72, a PEG ratio of 5.50 and a beta of 1.22. Global-E Online has a fifty-two week low of $28.11 and a fifty-two week high of $57.85.

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.