Short Interest in Global-E Online Ltd. (NASDAQ:GLBE) Decreases By 7.5%

Global-E Online Ltd. (NASDAQ:GLBE) was the recipient of a large decline in short interest in December. As of December 31st, there was short interest totalling 4,190,000 shares, a decline of 7.5% from the December 15th total of 4,530,000 shares. Approximately 4.4% of the company’s stock are short sold. Based on an average trading volume of 1,220,000 shares, the days-to-cover ratio is currently 3.4 days.

Hedge Funds Weigh In On Global-E Online

Institutional investors have recently modified their holdings of the stock. Mutual Advisors LLC acquired a new stake in Global-E Online during the fourth quarter worth about $371,000. SG Americas Securities LLC grew its stake in shares of Global-E Online by 5,939.0% during the 4th quarter. SG Americas Securities LLC now owns 636,393 shares of the company’s stock worth $34,703,000 after purchasing an additional 625,855 shares during the period. Nordea Investment Management AB purchased a new position in shares of Global-E Online during the 4th quarter valued at approximately $451,000. JPMorgan Chase & Co. lifted its stake in shares of Global-E Online by 40.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,846,479 shares of the company’s stock valued at $70,979,000 after purchasing an additional 533,675 shares during the period. Finally, Franklin Resources Inc. purchased a new stake in Global-E Online during the third quarter worth $223,000. Hedge funds and other institutional investors own 94.60% of the company’s stock.

Global-E Online Stock Up 0.3 %

Shares of NASDAQ:GLBE traded up $0.18 during midday trading on Friday, reaching $56.10. The company’s stock had a trading volume of 866,963 shares, compared to its average volume of 888,993. The firm has a market capitalization of $9.21 billion, a PE ratio of -96.72, a P/E/G ratio of 5.50 and a beta of 1.22. The stock has a fifty day moving average of $52.07 and a 200 day moving average of $41.63. Global-E Online has a twelve month low of $28.11 and a twelve month high of $57.85.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on GLBE shares. Piper Sandler increased their price objective on Global-E Online from $63.00 to $66.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Morgan Stanley cut Global-E Online from an “overweight” rating to an “equal weight” rating and set a $40.00 price target for the company. in a research note on Friday, October 18th. Benchmark boosted their price target on Global-E Online from $41.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, November 18th. Raymond James increased their price objective on shares of Global-E Online from $41.00 to $55.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Finally, JMP Securities lifted their target price on shares of Global-E Online from $46.00 to $64.00 and gave the stock a “market outperform” rating in a research note on Thursday, November 21st. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Global-E Online has a consensus rating of “Moderate Buy” and a consensus price target of $53.25.

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.