Short Interest in Global-E Online Ltd. (NASDAQ:GLBE) Grows By 20.9%

Global-E Online Ltd. (NASDAQ:GLBE - Get Free Report) was the recipient of a significant growth in short interest in the month of May. As of May 15th, there was short interest totalling 5,660,000 shares, a growth of 20.9% from the April 30th total of 4,680,000 shares. Based on an average trading volume of 2,160,000 shares, the days-to-cover ratio is presently 2.6 days. Currently, 5.3% of the company's shares are sold short.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Fifth Third Bancorp lifted its position in Global-E Online by 69.1% during the 4th quarter. Fifth Third Bancorp now owns 482 shares of the company's stock valued at $26,000 after acquiring an additional 197 shares during the period. Berbice Capital Management LLC purchased a new position in Global-E Online during the 1st quarter valued at about $36,000. Arcadia Investment Management Corp MI purchased a new position in Global-E Online during the 4th quarter valued at about $59,000. Whipplewood Advisors LLC purchased a new position in Global-E Online in the fourth quarter worth about $65,000. Finally, Assetmark Inc. bought a new position in shares of Global-E Online in the first quarter worth approximately $45,000. 94.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on GLBE. Piper Sandler restated an "overweight" rating and issued a $42.00 price objective on shares of Global-E Online in a research report on Wednesday, May 14th. JMP Securities restated a "market outperform" rating and issued a $64.00 price objective on shares of Global-E Online in a research report on Thursday, May 15th. UBS Group 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 research note on Friday, February 21st. Wells Fargo & Company cut their target price on shares of Global-E Online from $45.00 to $40.00 and set an "overweight" rating on the stock in a research note on Thursday, May 15th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $40.00 target price on shares of Global-E Online in a research note on Thursday, May 15th. One investment analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $48.00.

Global-E Online Price Performance

NASDAQ GLBE traded up $0.66 during trading hours on Thursday, reaching $34.56. 2,771,860 shares of the company's stock traded hands, compared to its average volume of 1,507,288. Global-E Online has a 52-week low of $26.64 and a 52-week high of $63.69. The firm has a market cap of $5.87 billion, a PE ratio of -78.55, a PEG ratio of 4.61 and a beta of 1.26. The firm has a 50-day simple moving average of $34.00 and a 200 day simple moving average of $45.00.

Global-E Online (NASDAQ:GLBE - Get Free Report) last issued its quarterly earnings results on Wednesday, May 14th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.13) by $0.02. Global-E Online had a negative net margin of 10.04% and a negative return on equity of 8.56%. The company had revenue of $189.88 million during the quarter, compared to analysts' expectations of $187.84 million. During the same period last year, the company posted ($0.19) EPS. Global-E Online's revenue was up 30.2% on a year-over-year basis. Sell-side analysts forecast that Global-E Online will post 0.25 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.