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

Global-E Online Ltd. (NASDAQ:GLBE) was the target of a significant decrease in short interest in February. As of February 28th, there was short interest totalling 3,560,000 shares, a decrease of 16.8% from the February 13th total of 4,280,000 shares. Currently, 3.5% of the shares of the stock are short sold. Based on an average daily volume of 1,540,000 shares, the short-interest ratio is presently 2.3 days.

Institutional Trading of Global-E Online

Several hedge funds have recently modified their holdings of GLBE. Oppenheimer Asset Management Inc. raised its stake in shares of Global-E Online by 38.2% in the third quarter. Oppenheimer Asset Management Inc. now owns 20,345 shares of the company’s stock valued at $782,000 after acquiring an additional 5,621 shares in the last quarter. CIBC Asset Management Inc raised its stake in shares of Global-E Online by 4.4% in the third quarter. CIBC Asset Management Inc now owns 9,420 shares of the company’s stock valued at $362,000 after acquiring an additional 393 shares in the last quarter. Swiss National Bank raised its stake in shares of Global-E Online by 0.9% in the third quarter. Swiss National Bank now owns 298,920 shares of the company’s stock valued at $11,490,000 after acquiring an additional 2,600 shares in the last quarter. Cedar Wealth Management LLC raised its stake in shares of Global-E Online by 32.5% in the third quarter. Cedar Wealth Management LLC now owns 29,030 shares of the company’s stock valued at $1,116,000 after acquiring an additional 7,121 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Global-E Online by 10.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 71,151 shares of the company’s stock valued at $2,735,000 after acquiring an additional 6,485 shares in the last quarter. 94.60% of the stock is currently owned by institutional investors and hedge funds.

Global-E Online Stock Down 2.0 %

NASDAQ:GLBE traded down $0.75 during trading hours on Tuesday, reaching $36.32. 1,671,014 shares of the stock were exchanged, compared to its average volume of 1,263,931. The business has a 50-day moving average of $51.68 and a two-hundred day moving average of $46.50. Global-E Online has a twelve month low of $28.11 and a twelve month high of $63.69. The company has a market capitalization of $5.97 billion, a price-to-earnings ratio of -82.55, a PEG ratio of 4.61 and a beta of 1.30.

Global-E Online (NASDAQ:GLBE) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.02. Global-E Online had a negative return on equity of 8.56% and a negative net margin of 10.04%. The company had revenue of $262.91 million for the quarter, compared to analysts’ expectations of $250.96 million. During the same period in the prior year, the firm earned $0.22 earnings per share. The firm’s revenue was up 41.8% compared to the same quarter last year. On average, research analysts forecast that Global-E Online will post 0.25 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

GLBE has been the subject of a number of analyst reports. Jefferies Financial Group upped their price target on Global-E Online from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, November 18th. Needham & Company LLC restated a “buy” rating and issued a $64.00 price target on shares of Global-E Online in a research report on Wednesday, March 12th. Benchmark dropped their price target on Global-E Online from $68.00 to $64.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. Wells Fargo & Company dropped their price target on Global-E Online from $60.00 to $54.00 and set an “overweight” rating for the company in a research report on Wednesday, March 5th. Finally, KeyCorp upped their price target on Global-E Online from $55.00 to $65.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $59.08.

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.