Global-E Online Ltd. (NASDAQ:GLBE) Short Interest Down 7.5% in December

Global-E Online Ltd. (NASDAQ:GLBE) saw a significant decrease in short interest in December. As of December 31st, there was short interest totalling 4,190,000 shares, a decrease of 7.5% from the December 15th total of 4,530,000 shares. Based on an average daily volume of 1,220,000 shares, the days-to-cover ratio is currently 3.4 days. Approximately 4.4% of the shares of the stock are short sold.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of GLBE. Acadian Asset Management LLC acquired a new stake in shares of Global-E Online during the 2nd quarter worth approximately $220,000. American Century Companies Inc. raised its position in Global-E Online by 6,424.3% in the second quarter. American Century Companies Inc. now owns 506,746 shares of the company’s stock valued at $18,380,000 after purchasing an additional 498,979 shares during the period. DekaBank Deutsche Girozentrale lifted its stake in shares of Global-E Online by 51.6% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 6,081 shares of the company’s stock valued at $224,000 after purchasing an additional 2,071 shares during the last quarter. Oppenheimer Asset Management Inc. grew its holdings in shares of Global-E Online by 29.8% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 14,724 shares of the company’s stock worth $534,000 after purchasing an additional 3,383 shares during the period. Finally, XTX Topco Ltd acquired a new stake in shares of Global-E Online during the 2nd quarter worth about $373,000. Hedge funds and other institutional investors own 94.60% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on GLBE. Wells Fargo & Company lifted their price target on shares of Global-E Online from $45.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Jefferies Financial Group boosted their target price on shares of Global-E Online from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, November 18th. The Goldman Sachs Group raised their price target on shares of Global-E Online from $56.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, January 10th. JMP Securities boosted their price objective on Global-E Online from $46.00 to $64.00 and gave the stock a “market outperform” rating in a research note on Thursday, November 21st. Finally, Piper Sandler raised their target price on Global-E Online from $63.00 to $66.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $53.25.

Global-E Online Price Performance

Shares of NASDAQ:GLBE traded up $0.18 during midday trading on Friday, hitting $56.10. The company had a trading volume of 866,963 shares, compared to its average volume of 888,993. The business’s 50-day simple moving average is $52.07 and its 200-day simple moving average is $41.63. The stock has a market cap of $9.21 billion, a price-to-earnings ratio of -96.72, a price-to-earnings-growth ratio of 5.50 and a beta of 1.22. Global-E Online has a twelve month low of $28.11 and a twelve month high of $57.85.

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.