Global-E Online Ltd. (NASDAQ:GLBE) Short Interest Down 7.5% in December

Global-E Online Ltd. (NASDAQ:GLBE) was the target of a large drop in short interest during the month of December. As of December 31st, there was short interest totalling 4,190,000 shares, a drop of 7.5% from the December 15th total of 4,530,000 shares. Based on an average daily trading volume, of 1,220,000 shares, the short-interest ratio is currently 3.4 days. Currently, 4.4% of the shares of the company are sold short.

Analysts Set New Price Targets

A number of brokerages have issued reports on GLBE. Benchmark boosted their price target on Global-E Online from $41.00 to $45.00 and gave the company a “buy” rating in a report on Monday, November 18th. Raymond James increased their price target on shares of Global-E Online from $41.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. JMP Securities lifted their price objective on shares of Global-E Online from $46.00 to $64.00 and gave the company a “market outperform” rating in a report on Thursday, November 21st. UBS Group dropped their target price on Global-E Online from $50.00 to $48.00 and set a “buy” rating on the stock in a research report on Friday, October 18th. Finally, KeyCorp upped their price target on Global-E Online from $38.00 to $55.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $53.25.

Institutional Investors Weigh In On Global-E Online

Several institutional investors and hedge funds have recently added to or reduced their stakes in GLBE. Mutual Advisors LLC purchased a new position in Global-E Online in the 4th quarter worth approximately $371,000. SG Americas Securities LLC increased its holdings in shares of Global-E Online by 5,939.0% in the fourth quarter. SG Americas Securities LLC now owns 636,393 shares of the company’s stock valued at $34,703,000 after purchasing an additional 625,855 shares during the last quarter. Nordea Investment Management AB purchased a new position in Global-E Online during the fourth quarter worth approximately $451,000. JPMorgan Chase & Co. boosted its stake in Global-E Online by 40.7% during the third quarter. JPMorgan Chase & Co. now owns 1,846,479 shares of the company’s stock worth $70,979,000 after buying an additional 533,675 shares during the last quarter. Finally, Franklin Resources Inc. purchased a new stake in Global-E Online in the 3rd quarter valued at $223,000. Institutional investors and hedge funds own 94.60% of the company’s stock.

Global-E Online Stock Performance

Shares of NASDAQ:GLBE traded up $0.18 during trading on Friday, reaching $56.10. The stock had a trading volume of 866,963 shares, compared to its average volume of 888,993. Global-E Online has a 1-year low of $28.11 and a 1-year high of $57.85. The stock has a market cap of $9.21 billion, a PE ratio of -96.72, a PEG ratio of 5.50 and a beta of 1.22. The business has a fifty day moving average price of $52.07 and a 200-day moving average price of $41.70.

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.