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 September. As of September 30th, there was short interest totalling 7,970,000 shares, a decrease of 5.9% from the September 15th total of 8,470,000 shares. Based on an average daily volume of 1,000,000 shares, the days-to-cover ratio is currently 8.0 days. Approximately 8.4% of the shares of the company are short sold.

Institutional Trading of Global-E Online

A number of hedge funds and other institutional investors have recently modified their holdings of GLBE. Toronto Dominion Bank acquired a new position in Global-E Online during the 2nd quarter worth $40,000. RiverPark Advisors LLC raised its position in shares of Global-E Online by 360.9% during the first quarter. RiverPark Advisors LLC now owns 3,650 shares of the company’s stock worth $133,000 after acquiring an additional 2,858 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its stake in shares of Global-E Online by 18.4% during the first quarter. DekaBank Deutsche Girozentrale now owns 4,010 shares of the company’s stock valued at $146,000 after acquiring an additional 624 shares during the period. Russell Investments Group Ltd. boosted its holdings in Global-E Online by 15.2% in the first quarter. Russell Investments Group Ltd. now owns 5,911 shares of the company’s stock valued at $215,000 after acquiring an additional 780 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in Global-E Online in the second quarter worth about $220,000. Institutional investors and hedge funds own 94.60% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on GLBE shares. The Goldman Sachs Group reissued a “buy” rating and issued a $43.00 price target on shares of Global-E Online in a report on Monday, July 1st. Morgan Stanley increased their price target on shares of Global-E Online from $37.00 to $40.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Piper Sandler decreased their price objective on Global-E Online from $47.00 to $44.00 and set an “overweight” rating on the stock in a report on Thursday, August 15th. KeyCorp dropped their target price on Global-E Online from $40.00 to $38.00 and set an “overweight” rating for the company in a report on Thursday, August 15th. Finally, Needham & Company LLC restated a “buy” rating and set a $48.00 target price on shares of Global-E Online in a research report on Thursday, August 15th. Eleven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $42.82.

Global-E Online Stock Performance

Shares of GLBE opened at $37.65 on Friday. The company has a market cap of $6.18 billion, a price-to-earnings ratio of -50.88 and a beta of 1.10. The stock has a fifty day moving average price of $35.84 and a two-hundred day moving average price of $34.04. Global-E Online has a 52-week low of $27.30 and a 52-week high of $42.88.

Global-E Online (NASDAQ:GLBE) last issued its quarterly earnings results on Wednesday, August 14th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.03. The business had revenue of $168.00 million for the quarter, compared to the consensus estimate of $165.95 million. Global-E Online had a negative net margin of 17.33% and a negative return on equity of 16.41%. The firm’s quarterly revenue was up 26.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.22) EPS. As a group, research analysts predict that Global-E Online will post -0.5 EPS for the current fiscal year.

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.