Global-E Online Ltd. (NASDAQ:GLBE) Short Interest Down 9.5% in October

Global-E Online Ltd. (NASDAQ:GLBE) saw a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 7,980,000 shares, a drop of 9.5% from the October 15th total of 8,820,000 shares. Currently, 8.4% of the company’s stock are short sold. Based on an average daily volume of 926,100 shares, the days-to-cover ratio is presently 8.6 days.

Analysts Set New Price Targets

GLBE has been the subject of a number of research analyst reports. Jefferies Financial Group raised their target price on Global-E Online from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Monday. KeyCorp reduced their price objective on Global-E Online from $40.00 to $38.00 and set an “overweight” rating for the company in a research report on Thursday, August 15th. Morgan Stanley lowered Global-E Online from an “overweight” rating to an “equal weight” rating and set a $40.00 price objective for the company. in a research report on Friday, October 18th. Bank of America reduced their price objective on Global-E Online from $47.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Finally, Piper Sandler reaffirmed a “buy” rating on shares of Global-E Online in a research report on Friday, October 18th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, Global-E Online presently has an average rating of “Moderate Buy” and a consensus price target of $44.27.

Institutional Trading of Global-E Online

Large investors have recently modified their holdings of the company. Capital Performance Advisors LLP bought a new stake in shares of Global-E Online in the third quarter worth $32,000. Toronto Dominion Bank purchased a new position in Global-E Online during the second quarter valued at $40,000. Venturi Wealth Management LLC purchased a new position in Global-E Online during the third quarter valued at $87,000. Quarry LP lifted its position in Global-E Online by 226.1% during the third quarter. Quarry LP now owns 2,286 shares of the company’s stock valued at $88,000 after purchasing an additional 1,585 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its position in shares of Global-E Online by 18.4% in the first quarter. DekaBank Deutsche Girozentrale now owns 4,010 shares of the company’s stock valued at $146,000 after acquiring an additional 624 shares in the last quarter. Institutional investors own 94.60% of the company’s stock.

Global-E Online Stock Up 2.0 %

Shares of Global-E Online stock traded up $0.83 on Tuesday, reaching $41.65. The company’s stock had a trading volume of 426,343 shares, compared to its average volume of 1,084,672. Global-E Online has a 52 week low of $28.11 and a 52 week high of $43.52. The firm’s fifty day simple moving average is $38.28 and its two-hundred day simple moving average is $34.85.

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.