Global-E Online Ltd. (NASDAQ:GLBE) Sees Significant Increase in Short Interest

Global-E Online Ltd. (NASDAQ:GLBE - Get Free Report) was the recipient of a significant growth in short interest during the month of April. As of April 15th, there was short interest totalling 9,320,000 shares, a growth of 11.5% from the March 31st total of 8,360,000 shares. Approximately 8.8% of the company's shares are short sold. Based on an average daily volume of 1,160,000 shares, the short-interest ratio is currently 8.0 days.

Analyst Ratings Changes

GLBE has been the subject of several analyst reports. Piper Sandler reissued an "overweight" rating and set a $50.00 price target on shares of Global-E Online in a research report on Thursday, February 22nd. Wells Fargo & Company reiterated an "overweight" rating and issued a $40.00 price target on shares of Global-E Online in a report on Monday, April 1st. Needham & Company LLC restated a "buy" rating and issued a $48.00 price target on shares of Global-E Online in a report on Friday, April 5th. Finally, The Goldman Sachs Group lifted their price target on shares of Global-E Online from $36.00 to $46.00 and gave the company a "buy" rating in a research note on Thursday, January 11th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $43.00.

Global-E Online Trading Down 1.3 %

Shares of GLBE stock traded down $0.43 during trading hours on Wednesday, hitting $33.10. The company's stock had a trading volume of 701,687 shares, compared to its average volume of 1,075,817. The company has a 50 day moving average of $34.46 and a 200 day moving average of $36.19. Global-E Online has a 12-month low of $26.01 and a 12-month high of $45.72. The stock has a market cap of $5.44 billion, a PE ratio of -40.86 and a beta of 1.10.

Global-E Online (NASDAQ:GLBE - Get Free Report) last announced its quarterly earnings results on Wednesday, February 21st. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.01). Global-E Online had a negative return on equity of 19.33% and a negative net margin of 23.48%. The company had revenue of $185.40 million for the quarter, compared to analyst estimates of $181.74 million. During the same period in the prior year, the business posted ($0.18) earnings per share. Global-E Online's revenue for the quarter was up 32.5% on a year-over-year basis. As a group, analysts anticipate that Global-E Online will post -0.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Global-E Online

Several institutional investors have recently made changes to their positions in the company. RiverPark Advisors LLC purchased a new position in Global-E Online during the third quarter worth approximately $26,000. Global Retirement Partners LLC increased its holdings in Global-E Online by 31.2% in the 1st quarter. Global Retirement Partners LLC now owns 1,650 shares of the company's stock worth $60,000 after acquiring an additional 392 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new position in Global-E Online during the third quarter worth $126,000. Ables Iannone Moore & Associates Inc. purchased a new position in Global-E Online during the fourth quarter valued at $141,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Global-E Online in the third quarter valued at about $175,000. 94.60% of the stock is owned by hedge funds and other institutional investors.

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.

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