Globavend Holdings Limited (NASDAQ:GVH) experienced a sharp decline in short interest during February 2023. As of February 13, short interest plummeted to 11,149 shares, reflecting a significant decrease of 60.3% from the previous total of 28,103 shares reported on January 29. With an average daily trading volume of 50,439 shares, the current short-interest ratio stands at just 0.2 days, indicating that approximately 0.7% of the company’s shares are sold short.
Analyst Ratings and Market Performance
Several analysts have recently provided updates on Globavend’s stock. On January 22, Weiss Ratings reaffirmed its “sell (d)” rating, suggesting caution among investors. Conversely, Zacks Research upgraded the stock from a “strong sell” to a “hold” rating on January 26, indicating a more neutral outlook. Currently, one research analyst has assigned a Strong Buy rating, another has given a Hold rating, and one has rated the stock as a Sell. According to data from MarketBeat, the consensus rating for Globavend is “Hold,” with an average target price of $80.00.
In midday trading on Friday, shares of Globavend increased by $0.01, reaching a price of $1.19. The trading volume for the day was recorded at 64,851 shares, significantly lower than the average volume of 1,968,263. The company’s stock has experienced a 50-day moving average price of $1.50 and a 200-day moving average of $3.53. Over the past year, the stock has fluctuated between a low of $0.88 and a high of $364.00.
About Globavend Holdings Limited
Founded in 2016 and headquartered in Perth, Australia, Globavend Holdings Limited, along with its subsidiaries, specializes in providing integrated cross-border logistics and air freight forwarding services. The company operates primarily in Hong Kong, Australia, and New Zealand, offering a wide range of services, including parcel consolidation, customs clearance, and delivery for e-commerce merchants and platform operators. Globavend Holdings Limited is a subsidiary of Globavend Investments Limited.
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