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

Global-E Online Ltd. (NASDAQ:GLBE) was the target of a large decrease in short interest in November. As of November 15th, there was short interest totalling 7,510,000 shares, a decrease of 5.9% from the October 31st total of 7,980,000 shares. Currently, 7.8% of the shares of the stock are sold short. Based on an average daily volume of 1,090,000 shares, the days-to-cover ratio is presently 6.9 days.

Institutional Trading of Global-E Online

Several large investors have recently modified their holdings of the business. Fred Alger Management LLC purchased a new stake in Global-E Online in the 3rd quarter worth approximately $53,493,000. Dragoneer Investment Group LLC boosted its holdings in Global-E Online by 9.6% in the second quarter. Dragoneer Investment Group LLC now owns 14,734,024 shares of the company’s stock valued at $534,403,000 after acquiring an additional 1,288,829 shares in the last quarter. WINTON GROUP Ltd purchased a new position in Global-E Online during the 2nd quarter valued at $623,000. Clearbridge Investments LLC purchased a new position in Global-E Online during the 2nd quarter valued at $83,036,000. Finally, Summit Creek Advisors LLC bought a new position in Global-E Online in the 2nd quarter worth $11,449,000. 94.60% of the stock is owned by institutional investors.

Global-E Online Stock Performance

GLBE stock traded up $0.61 during midday trading on Tuesday, hitting $52.96. The company had a trading volume of 379,891 shares, compared to its average volume of 1,141,788. Global-E Online has a 52 week low of $28.11 and a 52 week high of $53.05. The stock’s 50 day moving average price is $40.60 and its 200 day moving average price is $36.08.

Analysts Set New Price Targets

A number of brokerages recently issued reports on GLBE. UBS Group lowered their price objective 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. Needham & Company LLC reissued a “buy” rating and set a $48.00 price objective on shares of Global-E Online in a report on Monday, November 18th. Morgan Stanley cut shares of Global-E Online from an “overweight” rating to an “equal weight” rating and set a $40.00 price objective on the stock. in a research report on Friday, October 18th. Wells Fargo & Company boosted their price target on shares of Global-E Online from $45.00 to $60.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Finally, Jefferies Financial Group raised their price objective on shares of Global-E Online from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, November 18th. One investment 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 currently has an average rating of “Moderate Buy” and an average price target of $51.33.

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.