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

Global-E Online Ltd. (NASDAQ:GLBE) was the target of a large increase in short interest during 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 trading volume, of 1,630,000 shares, the short-interest ratio is presently 2.6 days. Approximately 4.2% of the shares of the company are sold short.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Fifth Third Bancorp lifted its position in Global-E Online by 69.1% during the fourth quarter. Fifth Third Bancorp now owns 482 shares of the company’s stock valued at $26,000 after purchasing an additional 197 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in Global-E Online by 2.6% during the fourth quarter. Daiwa Securities Group Inc. now owns 8,000 shares of the company’s stock worth $436,000 after acquiring an additional 200 shares during the last quarter. Voya Investment Management LLC raised its position in Global-E Online by 1.3% during the fourth quarter. Voya Investment Management LLC now owns 17,060 shares of the company’s stock valued at $930,000 after purchasing an additional 227 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of Global-E Online by 1.6% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,660 shares of the company’s stock valued at $908,000 after purchasing an additional 260 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its holdings in shares of Global-E Online by 7.1% in the 4th quarter. Mackenzie Financial Corp now owns 6,740 shares of the company’s stock worth $368,000 after purchasing an additional 448 shares during the period. 94.60% of the stock is currently owned by institutional investors.

Global-E Online Price Performance

Shares of GLBE stock traded up $1.49 during mid-day trading on Wednesday, hitting $37.48. The company had a trading volume of 1,420,658 shares, compared to its average volume of 1,295,835. The stock’s 50 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 P/E ratio of -85.18, a P/E/G ratio of 4.61 and a beta of 1.30.

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

Wall Street Analysts Forecast Growth

GLBE has been the topic of a number of recent research reports. Needham & Company LLC reissued a “buy” rating and issued a $64.00 target price on shares of Global-E Online in a report on Wednesday, March 12th. Wells Fargo & Company dropped their price objective on shares of 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 lifted their price target on shares of Global-E Online from $63.00 to $66.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. The Goldman Sachs Group cut their price objective on shares of Global-E Online from $59.00 to $47.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, KeyCorp raised their target price on Global-E Online from $55.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Twelve research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $57.00.

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.