Global-E Online Ltd. (NASDAQ:GLBE) Short Interest Update

Global-E Online Ltd. (NASDAQ:GLBE) was the recipient of a large drop in short interest in November. As of November 30th, there was short interest totalling 5,240,000 shares, a drop of 30.2% from the November 15th total of 7,510,000 shares. Based on an average trading volume of 1,140,000 shares, the days-to-cover ratio is presently 4.6 days. Currently, 5.5% of the shares of the stock are short sold.

Global-E Online Stock Up 1.6 %

Global-E Online stock traded up $0.88 during midday trading on Friday, hitting $56.46. 1,753,035 shares of the stock were exchanged, compared to its average volume of 1,150,431. The company has a fifty day simple moving average of $43.89 and a two-hundred day simple moving average of $37.68. Global-E Online has a 52 week low of $28.11 and a 52 week high of $56.62. The stock has a market capitalization of $9.27 billion, a PE ratio of -97.34 and a beta of 1.24.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Needham & Company LLC restated a “buy” rating and issued a $48.00 price objective on shares of Global-E Online in a research report on Monday, November 18th. Benchmark raised their price objective on shares of Global-E Online from $41.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, November 18th. JMP Securities lifted their price target on shares of Global-E Online from $46.00 to $64.00 and gave the stock a “market outperform” rating in a research report on Thursday, November 21st. Raymond James lifted their price target on shares of Global-E Online from $41.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Finally, Bank of America lowered their price target on shares of 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. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $51.33.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Fred Alger Management LLC bought a new position in Global-E Online during the 3rd quarter worth approximately $53,493,000. Dragoneer Investment Group LLC boosted its stake in Global-E Online by 9.6% during the 2nd quarter. Dragoneer Investment Group LLC now owns 14,734,024 shares of the company’s stock worth $534,403,000 after acquiring an additional 1,288,829 shares during the last quarter. WINTON GROUP Ltd bought a new position in Global-E Online during the 2nd quarter worth approximately $623,000. Public Sector Pension Investment Board lifted its stake in Global-E Online by 23.8% in the third quarter. Public Sector Pension Investment Board now owns 51,950 shares of the company’s stock valued at $1,997,000 after buying an additional 10,000 shares in the last quarter. Finally, Clearbridge Investments LLC bought a new position in Global-E Online in the second quarter valued at approximately $83,036,000. Institutional investors own 94.60% of the company’s stock.

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.