Globavend Holdings Limited (NASDAQ:GVH) Sees Large Drop in Short Interest

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

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded shares of Globavend from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, September 1st. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Globavend currently has an average rating of “Reduce”.

Check Out Our Latest Analysis on GVH

Globavend Stock Performance

Shares of Globavend stock traded up $0.23 during trading hours on Thursday, reaching $1.38. The stock had a trading volume of 747,389 shares, compared to its average volume of 1,137,970. Globavend has a 1 year low of $0.87 and a 1 year high of $6.46. The firm has a 50 day simple moving average of $1.52 and a two-hundred day simple moving average of $2.63.

Institutional Investors Weigh In On Globavend

An institutional investor recently bought a new position in Globavend stock. Connective Capital Management LLC bought a new stake in Globavend Holdings Limited (NASDAQ:GVHFree Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 175,827 shares of the company’s stock, valued at approximately $253,000. Connective Capital Management LLC owned 251.18% of Globavend at the end of the most recent quarter.

About Globavend

(Get Free Report)

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.

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