Global-E Online Sees Unusually High Options Volume (NASDAQ:GLBE)

Global-E Online Ltd. (NASDAQ:GLBE) was the recipient of unusually large options trading on Tuesday. Traders bought 20,287 call options on the company. This represents an increase of approximately 702% compared to the typical daily volume of 2,530 call options.

Institutional Investors Weigh In On Global-E Online

Several hedge funds have recently modified their holdings of the company. Fifth Third Bancorp lifted its holdings in Global-E Online by 69.1% during the 4th quarter. Fifth Third Bancorp now owns 482 shares of the company’s stock worth $26,000 after buying an additional 197 shares during the period. CIBC Asset Management Inc lifted its holdings in Global-E Online by 4.4% during the 3rd quarter. CIBC Asset Management Inc now owns 9,420 shares of the company’s stock worth $362,000 after buying an additional 393 shares during the period. Juncture Wealth Strategies LLC lifted its holdings in Global-E Online by 3.9% during the 4th quarter. Juncture Wealth Strategies LLC now owns 13,161 shares of the company’s stock worth $718,000 after buying an additional 494 shares during the period. Daiwa Securities Group Inc. lifted its holdings in Global-E Online by 6.8% during the 3rd quarter. Daiwa Securities Group Inc. now owns 7,800 shares of the company’s stock worth $300,000 after buying an additional 500 shares during the period. Finally, Van ECK Associates Corp lifted its holdings in Global-E Online by 1.6% during the 3rd quarter. Van ECK Associates Corp now owns 32,828 shares of the company’s stock worth $1,235,000 after buying an additional 508 shares during the period. Institutional investors and hedge funds own 94.60% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Jefferies Financial Group raised their price objective on Global-E Online from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, November 18th. Raymond James lifted their price target on Global-E Online from $41.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Piper Sandler lifted 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. Needham & Company LLC reiterated a “buy” rating and issued a $48.00 price target on shares of Global-E Online in a research note on Monday, November 18th. Finally, JMP Securities lifted their price target on Global-E Online from $46.00 to $64.00 and gave the company a “market outperform” rating in a research note on Thursday, November 21st. 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, Global-E Online presently has an average rating of “Moderate Buy” and a consensus target price of $53.25.

Global-E Online Price Performance

Shares of NASDAQ GLBE traded up $2.20 during mid-day trading on Tuesday, hitting $60.23. 1,188,598 shares of the stock traded hands, compared to its average volume of 1,074,747. Global-E Online has a twelve month low of $28.11 and a twelve month high of $60.11. The company has a market cap of $9.89 billion, a PE ratio of -103.81, a price-to-earnings-growth ratio of 5.85 and a beta of 1.22. The firm has a 50 day simple moving average of $53.96 and a two-hundred day simple moving average of $42.57.

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.