Global-E Online (NASDAQ:GLBE) Shares Gap Down – Time to Sell?

Shares of Global-E Online Ltd. (NASDAQ:GLBE) gapped down prior to trading on Wednesday . The stock had previously closed at $61.90, but opened at $56.36. Global-E Online shares last traded at $53.10, with a volume of 595,996 shares traded.

Analysts Set New Price Targets

GLBE has been the subject of a number of research reports. KeyCorp increased their price target on Global-E Online from $55.00 to $65.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Piper Sandler increased their target price on Global-E Online from $63.00 to $66.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. The Goldman Sachs Group boosted their price target on shares of Global-E Online from $56.00 to $63.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Needham & Company LLC reiterated a “buy” rating and set a $48.00 price objective on shares of Global-E Online in a research report on Monday, November 18th. Finally, Wells Fargo & Company lifted their price objective on shares of Global-E Online from $45.00 to $60.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.33.

Global-E Online Trading Down 16.4 %

The stock has a 50 day moving average of $56.99 and a 200-day moving average of $45.51. The stock has a market capitalization of $8.50 billion, a P/E ratio of -89.40, a price-to-earnings-growth ratio of 6.47 and a beta of 1.23.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. PharVision Advisers LLC purchased a new stake in shares of Global-E Online during the 4th quarter worth $356,000. USS Investment Management Ltd purchased a new position in shares of Global-E Online during the 4th quarter valued at about $3,336,000. Voloridge Investment Management LLC acquired a new position in shares of Global-E Online in the fourth quarter worth about $14,319,000. Whitebark Investors LP purchased a new position in shares of Global-E Online during the 4th quarter valued at approximately $17,023,000. Finally, Sphera Management Technology Funds Ltd acquired a new stake in Global-E Online in the 4th quarter worth about $1,636,000. 94.60% of the stock is currently owned by institutional investors.

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.