Global-E Online Ltd. (NASDAQ:GLBE) Short Interest Update

Global-E Online Ltd. (NASDAQ:GLBE) was the recipient of a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 4,280,000 shares, an increase of 20.2% from the February 28th total of 3,560,000 shares. Based on an average daily volume of 1,630,000 shares, the short-interest ratio is presently 2.6 days. Currently, 4.2% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. UBS Group reduced their price objective on shares of Global-E Online from $68.00 to $64.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. Wells Fargo & Company reduced their price target on Global-E Online from $60.00 to $54.00 and set an “overweight” rating on the stock in a report on Wednesday, March 5th. Piper Sandler boosted their price objective on Global-E Online from $63.00 to $66.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Morgan Stanley upgraded Global-E Online from an “equal weight” rating to an “overweight” rating and reduced their target price for the stock from $55.00 to $46.00 in a research note on Wednesday, March 26th. Finally, The Goldman Sachs Group decreased their target price on Global-E Online from $59.00 to $47.00 and set a “buy” rating for the company in a research report on Wednesday. Twelve investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $57.00.

Global-E Online Price Performance

Shares of NASDAQ:GLBE traded up $1.49 during trading hours on Wednesday, hitting $37.48. The company’s stock had a trading volume of 1,420,658 shares, compared to its average volume of 1,295,835. The firm’s fifty day moving average price is $47.82 and its 200 day moving average price is $46.68. Global-E Online has a 52 week low of $28.11 and a 52 week high of $63.69. The company has a market capitalization of $6.16 billion, a price-to-earnings ratio of -85.18, a P/E/G ratio of 4.61 and a beta of 1.30.

Global-E Online (NASDAQ:GLBE) last posted its earnings results on Wednesday, February 19th. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.02. The company had revenue of $262.91 million during the quarter, compared to analyst estimates of $250.96 million. Global-E Online had a negative return on equity of 8.56% and a negative net margin of 10.04%. Global-E Online’s revenue was up 41.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.22 earnings per share. On average, equities research analysts predict that Global-E Online will post 0.25 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Global-E Online

Institutional investors have recently added to or reduced their stakes in the stock. Fifth Third Bancorp raised its holdings in Global-E Online by 69.1% in the fourth quarter. Fifth Third Bancorp now owns 482 shares of the company’s stock worth $26,000 after purchasing an additional 197 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in Global-E Online by 1,968.4% in the fourth quarter. Geneos Wealth Management Inc. now owns 786 shares of the company’s stock valued at $43,000 after acquiring an additional 748 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new position in Global-E Online in the fourth quarter worth $59,000. Whipplewood Advisors LLC acquired a new position in shares of Global-E Online during the fourth quarter worth $65,000. Finally, Quarry LP lifted its holdings in shares of Global-E Online by 226.1% during the 3rd quarter. Quarry LP now owns 2,286 shares of the company’s stock valued at $88,000 after purchasing an additional 1,585 shares during the last quarter. Institutional investors own 94.60% of the company’s stock.

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.