Global-e Online Ltd. (NASDAQ:GLBE – Get Rating) was the recipient of a large growth in short interest in December. As of December 15th, there was short interest totalling 6,120,000 shares, a growth of 18.6% from the November 30th total of 5,160,000 shares. Approximately 9.9% of the shares of the stock are sold short. Based on an average daily volume of 1,330,000 shares, the short-interest ratio is currently 4.6 days.
Global-e Online Stock Up 1.3 %
NASDAQ:GLBE traded up $0.27 during mid-day trading on Friday, reaching $20.64. The stock had a trading volume of 1,128,925 shares, compared to its average volume of 842,403. The stock’s 50 day simple moving average is $21.74 and its two-hundred day simple moving average is $25.07. Global-e Online has a 1-year low of $15.63 and a 1-year high of $66.78.
Global-e Online (NASDAQ:GLBE – Get Rating) last issued its quarterly earnings data on Wednesday, November 16th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.10). The business had revenue of $105.56 million for the quarter, compared to analyst estimates of $101.48 million. Global-e Online had a negative return on equity of 13.72% and a negative net margin of 53.83%. Sell-side analysts predict that Global-e Online will post -1.37 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of equities research analysts have commented on GLBE shares. KeyCorp lowered their target price on Global-e Online from $40.00 to $30.00 and set an “overweight” rating on the stock in a report on Thursday, November 17th. Raymond James reduced their target price on Global-e Online from $40.00 to $35.00 and set an “outperform” rating on the stock in a report on Thursday, November 17th. Morgan Stanley reduced their target price on Global-e Online from $48.00 to $37.00 and set an “overweight” rating on the stock in a report on Friday, December 16th. Piper Sandler cut their price objective on Global-e Online from $30.00 to $27.00 and set an “overweight” rating on the stock in a research report on Thursday, November 17th. Finally, The Goldman Sachs Group cut their price objective on Global-e Online from $38.00 to $33.00 and set a “buy” rating on the stock in a research report on Thursday, November 17th. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat, Global-e Online currently has a consensus rating of “Buy” and an average target price of $35.44.
Institutional Investors Weigh In On Global-e Online
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Eventide Asset Management LLC increased its holdings in shares of Global-e Online by 16.6% in the first quarter. Eventide Asset Management LLC now owns 2,495,391 shares of the company’s stock valued at $84,294,000 after buying an additional 355,505 shares in the last quarter. TimesSquare Capital Management LLC raised its stake in Global-e Online by 29.2% during the 2nd quarter. TimesSquare Capital Management LLC now owns 903,040 shares of the company’s stock valued at $18,214,000 after purchasing an additional 203,900 shares during the period. Dragoneer Investment Group LLC raised its stake in Global-e Online by 81.7% during the 1st quarter. Dragoneer Investment Group LLC now owns 2,243,489 shares of the company’s stock valued at $75,785,000 after purchasing an additional 1,008,637 shares during the period. Alps Advisors Inc. purchased a new position in shares of Global-e Online during the 2nd quarter valued at $2,639,000. Finally, JAT Capital Mgmt LP purchased a new position in shares of Global-e Online during the 1st quarter valued at $5,296,000. Institutional investors own 61.12% of the company’s stock.
Global-e Online Company Profile
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.
Further Reading
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