Stocks

Global-E Online Ltd. (NASDAQ:GLBE) Short Interest Update

Published December 15, 2024

Global-E Online Ltd. (NASDAQ:GLBE) experienced a notable reduction in short interest in November. As of November 30th, the total short interest stood at 5,240,000 shares, reflecting a 30.2% drop from 7,510,000 shares recorded on November 15th. In total, about 5.5% of the company's shares are currently sold short. Given an average daily trading volume of 1,140,000 shares, the current days-to-cover ratio is estimated at 4.6 days.

Institutional Investors Weigh In On Global-E Online

Global-E Online is considered a significant eCommerce stock.

Recently, hedge funds have updated their positions in Global-E Online. For instance, Capital Performance Advisors LLP acquired a new stake valued at approximately $32,000 in Q3. Similarly, Toronto Dominion Bank invested about $40,000 in Q2. Venturi Wealth Management LLC also took a new position in Q3 worth around $87,000. Quarry LP grew its investment in Global-E Online by 226.1% in Q3, now holding 2,286 shares valued at $88,000 after purchasing an extra 1,585 shares last quarter. Lastly, Acadian Asset Management LLC made a new investment of about $220,000 in Q2. Overall, institutional investors and hedge funds collectively own about 94.60% of the company's shares.

Global-E Online Stock Performance

During midday trading on a recent Friday, shares of NASDAQ:GLBE saw an increase of $0.88, reaching a price of $56.46. The trading volume on that day was 1,753,035 shares, compared to the average trading volume of 1,150,431 shares. Presently, the company holds a market capitalization of $9.27 billion, with a price-to-earnings (PE) ratio of -97.34 and a beta of 1.24. The stock's 50-day simple moving average is at $43.89, while the 200-day simple moving average is $37.68. Over the past year, Global-E Online's shares have reached a high of $56.62 and a low of $28.11.

Analysts Set New Price Targets

2 Tech stocks with upgrades and optimistic forecasts.

A number of analysts have recently provided updates on Global-E Online's stock. Benchmark raised their price target from $41.00 to $45.00 while assigning a "buy" rating during a report on November 18th. Conversely, Morgan Stanley downgraded the rating from "overweight" to "equal weight," setting a price target of $40.00 in a previous report on October 18th. On the optimistic side, KeyCorp increased its target from $38.00 to $55.00, rating the stock as "overweight" on November 26th. Raymond James also raised their price target to $55.00 and labeled the stock as "outperform" on November 21st. Lastly, UBS Group adjusted their price target down from $50.00 to $48.00 while maintaining a "buy" recommendation on October 18th. At present, one research analyst has rated Global-E Online as a hold, while eleven have given it a buy rating. According to MarketBeat data, the consensus rating stands at "Moderate Buy" with an average price target of $51.33.

Discover our latest research on GLBE

About Global-E Online

Global-E Online Ltd. offers a platform designed to enhance direct-to-consumer cross-border e-commerce across various regions, including Israel, the UK, and the US. This platform simplifies online purchases for international shoppers and assists merchants in selling globally.

Should you invest $1,000 in Global-E Online at this moment?

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