Global-E Online Ltd. (NASDAQ:GLBE) Sees Significant Growth in Short Interest

Global-E Online Ltd. (NASDAQ:GLBE) was the target of a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 8,360,000 shares, an increase of 14.1% from the March 15th total of 7,330,000 shares. Based on an average daily volume of 1,130,000 shares, the short-interest ratio is presently 7.4 days. Currently, 9.2% of the company’s shares are short sold.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on GLBE. Piper Sandler reaffirmed an “overweight” rating and set a $50.00 target price on shares of Global-E Online in a research report on Thursday, February 22nd. Wells Fargo & Company reissued an “overweight” rating and issued a $40.00 price objective on shares of Global-E Online in a research report on Monday, April 1st. The Goldman Sachs Group lifted their price objective on Global-E Online from $36.00 to $46.00 and gave the stock a “buy” rating in a research report on Thursday, January 11th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $48.00 price objective on shares of Global-E Online in a research report on Friday, April 5th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $43.00.

Global-E Online Stock Up 2.1 %

GLBE stock traded up $0.69 during mid-day trading on Tuesday, reaching $33.95. 960,179 shares of the company traded hands, compared to its average volume of 1,121,364. The stock has a market cap of $5.58 billion, a price-to-earnings ratio of -41.91 and a beta of 1.10. Global-E Online has a fifty-two week low of $26.01 and a fifty-two week high of $45.72. The firm’s 50 day moving average price is $35.95 and its 200 day moving average price is $36.46.

Global-E Online (NASDAQ:GLBE) last announced its earnings results on Wednesday, February 21st. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.01). Global-E Online had a negative return on equity of 19.33% and a negative net margin of 23.48%. The business had revenue of $185.40 million during the quarter, compared to analysts’ expectations of $181.74 million. During the same quarter in the previous year, the firm earned ($0.18) EPS. Global-E Online’s quarterly revenue was up 32.5% on a year-over-year basis. On average, analysts anticipate that Global-E Online will post -0.5 EPS for the current fiscal year.

Hedge Funds Weigh In On Global-E Online

A number of hedge funds and other institutional investors have recently modified their holdings of GLBE. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Global-E Online by 11.0% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 35,437 shares of the company’s stock worth $1,197,000 after buying an additional 3,521 shares during the last quarter. Dimensional Fund Advisors LP purchased a new position in Global-E Online in the first quarter valued at approximately $688,000. Sei Investments Co. lifted its stake in Global-E Online by 59.7% in the first quarter. Sei Investments Co. now owns 235,873 shares of the company’s stock valued at $7,968,000 after purchasing an additional 88,194 shares during the last quarter. Vanguard Group Inc. lifted its stake in Global-E Online by 3.0% in the first quarter. Vanguard Group Inc. now owns 19,918 shares of the company’s stock valued at $673,000 after purchasing an additional 571 shares during the last quarter. Finally, Parkwood LLC lifted its stake in Global-E Online by 110.7% in the first quarter. Parkwood LLC now owns 22,531 shares of the company’s stock valued at $761,000 after purchasing an additional 11,840 shares during the last quarter. Hedge funds and other institutional investors own 94.60% 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.