Globavend Holdings Limited (NASDAQ:GVH) Short Interest Update

Globavend Holdings Limited (NASDAQ:GVH) was the recipient of a significant decline in short interest in August. As of August 31st, there was short interest totaling 61,674 shares, a decline of 42.6% from the August 15th total of 107,527 shares. Currently, 1.4% of the company’s stock are short sold. Based on an average trading volume of 111,063 shares, the days-to-cover ratio is currently 0.6 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered Globavend from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, September 1st. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Globavend currently has an average rating of “Reduce”.

Globavend Trading Down 10.9%

NASDAQ GVH traded down $0.14 on Wednesday, reaching $1.15. The company had a trading volume of 249,558 shares, compared to its average volume of 1,140,230. The company’s fifty day moving average is $1.58 and its 200 day moving average is $2.63. Globavend has a 52-week low of $0.87 and a 52-week high of $6.46.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Globavend stock. Sabby Management LLC purchased a new position in shares of Globavend Holdings Limited (NASDAQ:GVH) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 178,645 shares of the company’s stock, valued at approximately $257,000. Globavend comprises approximately 0.4% of Sabby Management LLC’s investment portfolio, making the stock its 14th biggest holding. Sabby Management LLC owned approximately 255.21% of Globavend as of its most recent SEC filing.

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.