Global-E Online Ltd. (NASDAQ:GLBE) Sees Significant Growth in Short Interest

Global-E Online Ltd. (NASDAQ:GLBE) was the recipient of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 4,280,000 shares, an increase of 20.2% from the February 28th total of 3,560,000 shares. Approximately 4.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,630,000 shares, the short-interest ratio is currently 2.6 days.

Institutional Investors Weigh In On Global-E Online

Large investors have recently modified their holdings of the business. TimesSquare Capital Management LLC boosted its stake in Global-E Online by 6.3% in the 4th quarter. TimesSquare Capital Management LLC now owns 770,999 shares of the company’s stock worth $42,043,000 after purchasing an additional 45,739 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Global-E Online by 40.7% during the third quarter. JPMorgan Chase & Co. now owns 1,846,479 shares of the company’s stock worth $70,979,000 after buying an additional 533,675 shares during the period. Meitav Investment House Ltd. acquired a new stake in shares of Global-E Online during the fourth quarter worth $454,000. Amundi grew its holdings in shares of Global-E Online by 126.9% during the fourth quarter. Amundi now owns 788,542 shares of the company’s stock valued at $41,619,000 after buying an additional 440,953 shares during the last quarter. Finally, Aigen Investment Management LP acquired a new position in shares of Global-E Online in the 4th quarter valued at $802,000. Hedge funds and other institutional investors own 94.60% of the company’s stock.

Global-E Online Stock Down 13.7 %

GLBE stock traded down $5.12 during trading on Thursday, hitting $32.36. 2,097,446 shares of the company’s stock traded hands, compared to its average volume of 1,300,344. The business has a fifty day simple moving average of $47.43 and a two-hundred day simple moving average of $46.61. The firm has a market capitalization of $5.32 billion, a P/E ratio of -73.55, a PEG ratio of 4.61 and a beta of 1.30. Global-E Online has a 1 year low of $28.11 and a 1 year high of $63.69.

Global-E Online (NASDAQ:GLBE) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.02. Global-E Online had a negative return on equity of 8.56% and a negative net margin of 10.04%. The firm had revenue of $262.91 million during the quarter, compared to analyst estimates of $250.96 million. During the same period in the previous year, the company posted $0.22 EPS. The business’s revenue for the quarter was up 41.8% compared to the same quarter last year. On average, equities research analysts predict that Global-E Online will post 0.25 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on GLBE. KeyCorp lifted their price target on Global-E Online from $55.00 to $65.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. The Goldman Sachs Group cut their target price on Global-E Online from $59.00 to $47.00 and set a “buy” rating on the stock in a research report on Wednesday. UBS Group reduced their target price on shares of Global-E Online from $68.00 to $64.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. Needham & Company LLC reissued a “buy” rating and set a $64.00 price target on shares of Global-E Online in a research note on Wednesday, March 12th. Finally, Piper Sandler boosted their price objective on Global-E Online from $63.00 to $66.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Twelve investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $57.00.

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.