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

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

Institutional Investors Weigh In On Global-E Online

Hedge funds have recently modified their holdings of the business. Fred Alger Management LLC bought a new position in Global-E Online during the third quarter valued at about $53,493,000. JPMorgan Chase & Co. raised its stake in shares of Global-E Online by 40.7% in the third 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 in the last quarter. Dragoneer Investment Group LLC boosted its stake in Global-E Online by 9.6% during the second quarter. Dragoneer Investment Group LLC now owns 14,734,024 shares of the company’s stock worth $534,403,000 after buying an additional 1,288,829 shares in the last quarter. Public Sector Pension Investment Board boosted its stake in Global-E Online by 23.8% during the third quarter. Public Sector Pension Investment Board now owns 51,950 shares of the company’s stock worth $1,997,000 after buying an additional 10,000 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Global-E Online by 3.4% in the 3rd quarter. Geode Capital Management LLC now owns 933,476 shares of the company’s stock valued at $35,722,000 after buying an additional 30,995 shares in the last quarter. 94.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on GLBE. Morgan Stanley downgraded Global-E Online from an “overweight” rating to an “equal weight” rating and set a $40.00 price objective for the company. in a research note on Friday, October 18th. UBS Group decreased their price target on shares of Global-E Online from $50.00 to $48.00 and set a “buy” rating for the company in a report on Friday, October 18th. Wells Fargo & Company increased their target price on shares of Global-E Online from $45.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Needham & Company LLC restated a “buy” rating and set a $48.00 price target on shares of Global-E Online in a report on Monday, November 18th. Finally, KeyCorp increased their price objective on Global-E Online from $38.00 to $55.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $53.25.

Global-E Online Stock Performance

Shares of Global-E Online stock traded up $0.18 on Monday, reaching $56.10. The stock had a trading volume of 866,963 shares, compared to its average volume of 888,993. The business’s 50-day moving average price is $52.07 and its two-hundred day moving average price is $41.70. Global-E Online has a fifty-two week low of $28.11 and a fifty-two week high of $57.85. The stock has a market cap of $9.21 billion, a P/E ratio of -96.72, a price-to-earnings-growth ratio of 5.50 and a beta of 1.22.

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.