Globavend Holdings Limited (NASDAQ:GVH) Sees Significant Decrease in Short Interest

Globavend Holdings Limited (NASDAQ:GVH) was the target of a significant decrease in short interest in the month of January. As of January 15th, there was short interest totaling 62,683 shares, a decrease of 68.0% from the December 31st total of 195,961 shares. Currently, 89.5% of the company’s stock are sold short. Based on an average daily volume of 254,761 shares, the days-to-cover ratio is presently 0.2 days. Based on an average daily volume of 254,761 shares, the days-to-cover ratio is presently 0.2 days. Currently, 89.5% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on GVH shares. Zacks Research upgraded Globavend from a “strong sell” rating to a “hold” rating in a research note on Monday. Weiss Ratings restated a “sell (d)” rating on shares of Globavend in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $80.00.

Institutional Trading of Globavend

An institutional investor recently bought a new position in Globavend stock. Jane Street Group LLC acquired a new stake in shares of Globavend Holdings Limited (NASDAQ:GVH) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 249,145 shares of the company’s stock, valued at approximately $29,000. Jane Street Group LLC owned 355.92% of Globavend at the end of the most recent quarter.

Globavend Price Performance

Shares of Globavend stock traded up $0.05 during midday trading on Wednesday, hitting $1.29. 53,700 shares of the company were exchanged, compared to its average volume of 193,885. Globavend has a 52 week low of $1.09 and a 52 week high of $364.00. The firm has a 50 day simple moving average of $2.64 and a 200-day simple moving average of $4.50.

About Globavend

Globavend Holdings Limited, together with its subsidiaries, provides integrated cross-border logistics services and air freight forwarding services in Hong Kong, Australia, and New Zealand. The company's services include parcel consolidation, air freight forwarding, customs clearance, on-carriage parcel transportation, and delivery. It serves e-commerce merchants and operators of e-commerce platforms. The company was founded in 2016 and is based in Perth, Australia. Globavend Holdings Limited is subsidiary of Globavend Investments Limited.