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

Global-E Online Ltd. (NASDAQ:GLBE) was the recipient of a large decrease in short interest in the month of November. As of November 30th, there was short interest totalling 5,240,000 shares, a decrease of 30.2% from the November 15th total of 7,510,000 shares. Based on an average daily volume of 1,140,000 shares, the short-interest ratio is currently 4.6 days. Approximately 5.5% of the shares of the company are short sold.

Institutional Investors Weigh In On Global-E Online

Hedge funds have recently made changes to their positions in the company. Capital Performance Advisors LLP acquired a new stake in shares of Global-E Online during the 3rd quarter worth about $32,000. Toronto Dominion Bank acquired a new stake in shares of Global-E Online during the 2nd quarter worth about $40,000. Venturi Wealth Management LLC acquired a new stake in shares of Global-E Online during the 3rd quarter worth about $87,000. Quarry LP increased its position in shares of Global-E Online by 226.1% during the 3rd quarter. Quarry LP now owns 2,286 shares of the company’s stock worth $88,000 after purchasing an additional 1,585 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in shares of Global-E Online during the 2nd quarter worth about $220,000. Institutional investors and hedge funds own 94.60% of the company’s stock.

Global-E Online Stock Performance

Shares of NASDAQ:GLBE traded up $0.88 during midday trading on Friday, reaching $56.46. 1,753,035 shares of the company’s stock were exchanged, compared to its average volume of 1,150,431. The firm has a market capitalization of $9.27 billion, a PE ratio of -97.34 and a beta of 1.24. The company’s 50 day simple moving average is $43.89 and its two-hundred day simple moving average is $37.68. Global-E Online has a 12 month low of $28.11 and a 12 month high of $56.62.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Benchmark increased their price target on shares of Global-E Online from $41.00 to $45.00 and gave the company a “buy” rating in a report on Monday, November 18th. Morgan Stanley downgraded shares of Global-E Online from an “overweight” rating to an “equal weight” rating and set a $40.00 price target for the company. in a report on Friday, October 18th. KeyCorp increased their price target on shares of Global-E Online from $38.00 to $55.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Raymond James increased their price target on shares of Global-E Online from $41.00 to $55.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Finally, UBS Group reduced their price target on shares of Global-E Online from $50.00 to $48.00 and set a “buy” rating for the company in a report on Friday, October 18th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $51.33.

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.