Short Interest in Global-E Online Ltd. (NASDAQ:GLBE) Drops By 16.8%

Global-E Online Ltd. (NASDAQ:GLBE) was the target of a large decrease in short interest in the month of February. As of February 28th, there was short interest totalling 3,560,000 shares, a decrease of 16.8% from the February 13th total of 4,280,000 shares. Approximately 3.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,540,000 shares, the days-to-cover ratio is currently 2.3 days.

Institutional Investors Weigh In On Global-E Online

Several large investors have recently added to or reduced their stakes in the business. Lansforsakringar Fondforvaltning AB publ purchased a new stake in Global-E Online during the 4th quarter worth about $1,180,000. Siemens Fonds Invest GmbH purchased a new stake in Global-E Online during the fourth quarter worth approximately $124,000. Polar Asset Management Partners Inc. acquired a new position in Global-E Online in the fourth quarter valued at approximately $3,883,000. Mackenzie Financial Corp boosted its holdings in Global-E Online by 7.1% in the fourth quarter. Mackenzie Financial Corp now owns 6,740 shares of the company’s stock valued at $368,000 after purchasing an additional 448 shares in the last quarter. Finally, PharVision Advisers LLC acquired a new stake in Global-E Online during the fourth quarter worth approximately $356,000. 94.60% of the stock is owned by hedge funds and other institutional investors.

Global-E Online Stock Up 1.2 %

GLBE stock traded up $0.45 during mid-day trading on Thursday, hitting $37.91. 53,044 shares of the company were exchanged, compared to its average volume of 1,261,538. Global-E Online has a 12-month low of $28.11 and a 12-month high of $63.69. The firm has a market capitalization of $6.23 billion, a P/E ratio of -85.81, a PEG ratio of 4.61 and a beta of 1.30. The business has a fifty day simple moving average of $51.05 and a 200-day simple moving average of $46.45.

Global-E Online (NASDAQ:GLBE) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.02. Global-E Online had a negative net margin of 10.04% and a negative return on equity of 8.56%. The firm had revenue of $262.91 million during the quarter, compared to analysts’ expectations of $250.96 million. During the same quarter last year, the company posted $0.22 EPS. The firm’s quarterly revenue was up 41.8% on a year-over-year basis. Research analysts predict that Global-E Online will post 0.25 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Morgan Stanley lifted their price target on shares of Global-E Online from $52.00 to $55.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 18th. Benchmark dropped 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 report on Thursday, February 20th. Needham & Company LLC restated a “buy” rating and set a $64.00 price target on shares of Global-E Online in a research report on Wednesday, March 12th. The Goldman Sachs Group lifted their price objective on Global-E Online from $56.00 to $63.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Finally, Wells Fargo & Company cut their price objective on Global-E Online from $60.00 to $54.00 and set an “overweight” rating for the company in a research note on Wednesday, March 5th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.08.

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.