Short Interest in Global-E Online Ltd. (NASDAQ:GLBE) Drops By 16.8%

Global-E Online Ltd. (NASDAQ:GLBE) was the target of a significant decline in short interest in February. As of February 28th, there was short interest totalling 3,560,000 shares, a decline of 16.8% from the February 13th total of 4,280,000 shares. Approximately 3.5% of the shares of the company are sold short. Based on an average daily volume of 1,540,000 shares, the short-interest ratio is presently 2.3 days.

Analyst Ratings Changes

A number of equities analysts have recently commented on GLBE shares. Benchmark cut their target price on shares of Global-E Online from $68.00 to $64.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. UBS Group lowered their price objective on shares of Global-E Online from $68.00 to $64.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. Wells Fargo & Company cut their price objective on shares of Global-E Online from $60.00 to $54.00 and set an “overweight” rating for the company in a research report on Wednesday, March 5th. The Goldman Sachs Group lifted their target price on shares of Global-E Online from $56.00 to $63.00 and gave the company a “buy” rating in a report on Friday, January 10th. Finally, KeyCorp lifted their price objective on Global-E Online from $55.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, February 10th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $59.08.

Global-E Online Price Performance

NASDAQ:GLBE traded up $0.45 on Thursday, reaching $37.91. The stock had a trading volume of 53,044 shares, compared to its average volume of 1,261,538. The company has a market cap of $6.23 billion, a price-to-earnings ratio of -85.81, a P/E/G ratio of 4.61 and a beta of 1.30. Global-E Online has a 12-month low of $28.11 and a 12-month high of $63.69. The firm’s fifty day moving average is $51.05 and its two-hundred day moving average is $46.45.

Global-E Online (NASDAQ:GLBE) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.02. Global-E Online had a negative return on equity of 8.56% and a negative net margin of 10.04%. The company had revenue of $262.91 million during the quarter, compared to the consensus estimate of $250.96 million. Global-E Online’s revenue was up 41.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.22 EPS. As a group, research analysts forecast that Global-E Online will post 0.25 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Fifth Third Bancorp increased its holdings in Global-E Online by 69.1% in the 4th quarter. Fifth Third Bancorp now owns 482 shares of the company’s stock valued at $26,000 after purchasing an additional 197 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of Global-E Online by 1,968.4% during the 4th quarter. Geneos Wealth Management Inc. now owns 786 shares of the company’s stock valued at $43,000 after buying an additional 748 shares during the period. Arcadia Investment Management Corp MI acquired a new stake in Global-E Online in the fourth quarter valued at approximately $59,000. Whipplewood Advisors LLC acquired a new stake in Global-E Online during the 4th quarter valued at $65,000. Finally, SBI Securities Co. Ltd. purchased a new stake in Global-E Online during the 4th quarter worth $99,000. Institutional investors and hedge funds 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.