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

Global-E Online Ltd. (NASDAQ:GLBE) saw a significant increase in short interest in March. As of March 31st, there was short interest totalling 8,360,000 shares, an increase of 14.1% from the March 15th total of 7,330,000 shares. Based on an average daily trading volume, of 1,130,000 shares, the short-interest ratio is currently 7.4 days. Approximately 9.2% of the company’s shares are sold short.

Global-E Online Price Performance

NASDAQ GLBE traded up $0.69 during mid-day trading on Tuesday, reaching $33.95. The stock had a trading volume of 960,179 shares, compared to its average volume of 1,121,364. Global-E Online has a 1 year low of $26.01 and a 1 year high of $45.72. The stock has a market cap of $5.58 billion, a PE ratio of -41.91 and a beta of 1.10. The company has a fifty day moving average price of $35.95 and a 200 day moving average price of $36.46.

Global-E Online (NASDAQ:GLBE) last announced its quarterly earnings data on Wednesday, February 21st. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $185.40 million during the quarter, compared to analysts’ expectations of $181.74 million. During the same quarter in the previous year, the firm earned ($0.18) earnings per share. Global-E Online’s revenue was up 32.5% on a year-over-year basis. As a group, equities research analysts expect that Global-E Online will post -0.5 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have weighed in on GLBE. Needham & Company LLC reaffirmed a “buy” rating and set a $48.00 target price on shares of Global-E Online in a research note on Friday, April 5th. Piper Sandler reaffirmed an “overweight” rating and set a $50.00 target price on shares of Global-E Online in a research note on Thursday, February 22nd. The Goldman Sachs Group raised their target price 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. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and set a $40.00 target price on shares of Global-E Online in a research note on Monday, April 1st. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Global-E Online has an average rating of “Moderate Buy” and a consensus target price of $43.00.

Hedge Funds Weigh In On Global-E Online

A number of hedge funds have recently added to or reduced their stakes in the company. RiverPark Advisors LLC bought a new stake in Global-E Online in the 3rd quarter worth approximately $26,000. Quarry LP grew its position in Global-E Online by 169.9% in the 1st quarter. Quarry LP now owns 915 shares of the company’s stock worth $29,000 after purchasing an additional 576 shares during the period. Tower Research Capital LLC TRC bought a new stake in Global-E Online in the 2nd quarter worth approximately $32,000. Money Concepts Capital Corp bought a new stake in Global-E Online in the 4th quarter worth approximately $40,000. Finally, Rockefeller Capital Management L.P. grew its position in Global-E Online by 23.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 2,025 shares of the company’s stock worth $41,000 after purchasing an additional 378 shares during the period. 94.60% of the stock is currently owned by hedge funds and other institutional investors.

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.