Short Interest in Globavend Holdings Limited (NASDAQ:GVH) Decreases By 42.6%

Globavend Holdings Limited (NASDAQ:GVH) was the recipient of a large decrease in short interest in August. As of August 31st, there was short interest totaling 61,674 shares, a decrease of 42.6% from the August 15th total of 107,527 shares. Currently, 1.4% of the company’s shares are sold short. Based on an average daily volume of 111,063 shares, the days-to-cover ratio is currently 0.6 days.

Institutional Investors Weigh In On Globavend

An institutional investor recently bought a new position in Globavend stock. Sabby Management LLC bought a new stake in shares of Globavend Holdings Limited (NASDAQ:GVH) during the 4th quarter, according to its most recent filing with the SEC. The firm bought 178,645 shares of the company’s stock, valued at approximately $257,000. Globavend accounts for 0.4% of Sabby Management LLC’s holdings, making the stock its 14th biggest position. Sabby Management LLC owned 255.21% of Globavend as of its most recent filing with the SEC.

Globavend Stock Up 20.0%

Shares of Globavend stock opened at $1.38 on Friday. Globavend has a twelve month low of $0.87 and a twelve month high of $6.46. The company has a fifty day moving average price of $1.46 and a 200 day moving average price of $2.63.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered shares of Globavend from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, September 1st. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce”.

About Globavend

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.