Short Interest in Globavend Holdings Limited (NASDAQ:GVH) Expands By 93.6%

Globavend Holdings Limited (NASDAQ:GVH) saw a significant growth in short interest in July. As of July 31st, there was short interest totaling 268,265 shares, a growth of 93.6% from the July 15th total of 138,570 shares. Based on an average daily trading volume, of 3,128,799 shares, the days-to-cover ratio is currently 0.1 days. Currently, 17.5% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Wall Street Zen raised Globavend to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings upgraded shares of Globavend from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, May 20th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce”.

Globavend Price Performance

GVH remained flat at $1.00 during trading on Friday. 82,594 shares of the company traded hands, compared to its average volume of 2,289,026. Globavend has a 12-month low of $0.87 and a 12-month high of $6.46. The company has a 50 day simple moving average of $2.94 and a 200 day simple moving average of $2.63.

Institutional Investors Weigh In On Globavend

A number of institutional investors have recently bought and sold shares of GVH. Jane Street Group LLC bought a new position in Globavend during the second quarter worth about $29,000. Sabby Management LLC bought a new stake in shares of Globavend in the 4th quarter valued at approximately $257,000. Finally, Connective Capital Management LLC acquired a new position in shares of Globavend in the 4th quarter worth approximately $253,000.

Globavend Company Profile

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.