Globavend Holdings Limited (NASDAQ:GVH) Sees Significant Decrease in Short Interest

Globavend Holdings Limited (NASDAQ:GVH) was the recipient of a significant drop in short interest during the month of February. As of February 13th, there was short interest totaling 11,149 shares, a drop of 60.3% from the January 29th total of 28,103 shares. Based on an average trading volume of 50,439 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.7% of the company’s shares are short sold. Currently, 0.7% of the company’s shares are short sold. Based on an average trading volume of 50,439 shares, the days-to-cover ratio is presently 0.2 days.

Institutional Trading of Globavend

Several large investors have recently bought and sold shares of GVH. Jane Street Group LLC acquired a new stake in Globavend in the second quarter valued at $29,000. Connective Capital Management LLC acquired a new position in Globavend during the 4th quarter worth $253,000. Finally, Sabby Management LLC acquired a new position in Globavend during the 4th quarter worth $257,000.

Analyst Upgrades and Downgrades

Several brokerages have commented on GVH. Zacks Research upgraded Globavend from a “strong sell” rating to a “hold” rating in a research note on Monday, January 26th. Weiss Ratings reissued a “sell (d)” rating on shares of Globavend in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $80.00.

Globavend Trading Up 0.8%

Shares of GVH traded up $0.01 during midday trading on Friday, reaching $1.19. 64,851 shares of the company were exchanged, compared to its average volume of 1,968,263. Globavend has a 1-year low of $0.88 and a 1-year high of $364.00. The stock has a 50-day moving average price of $1.50 and a 200-day moving average price of $3.53.

About Globavend

Globavend Holdings Limited, together with its subsidiaries, provides integrated cross-border logistics services and air freight forwarding services in Hong Kong, Australia, and New Zealand. The company's services include parcel consolidation, air freight forwarding, customs clearance, on-carriage parcel transportation, and delivery. It serves e-commerce merchants and operators of e-commerce platforms. The company was founded in 2016 and is based in Perth, Australia. Globavend Holdings Limited is subsidiary of Globavend Investments Limited.