Global-E Online Ltd. (NASDAQ:GLBE) Short Interest Down 16.8% in February

Global-E Online Ltd. (NASDAQ:GLBE - Get Free Report) was the recipient of a significant decline in short interest during the month of February. As of February 28th, there was short interest totalling 3,560,000 shares, a decline of 16.8% from the February 13th total of 4,280,000 shares. Based on an average trading volume of 1,540,000 shares, the short-interest ratio is currently 2.3 days. Currently, 3.5% of the shares of the stock are sold short.

Hedge Funds Weigh In On Global-E Online

Several hedge funds have recently bought and sold shares of the company. Fifth Third Bancorp increased its stake in Global-E Online by 69.1% during the fourth quarter. Fifth Third Bancorp now owns 482 shares of the company's stock worth $26,000 after purchasing an additional 197 shares during the period. Geneos Wealth Management Inc. grew its holdings in shares of Global-E Online by 1,968.4% in the fourth quarter. Geneos Wealth Management Inc. now owns 786 shares of the company's stock valued at $43,000 after purchasing an additional 748 shares in the last quarter. Arcadia Investment Management Corp MI acquired a new stake in Global-E Online during the 4th quarter worth approximately $59,000. Whipplewood Advisors LLC acquired a new stake in Global-E Online during the 4th quarter worth approximately $65,000. Finally, Quarry LP boosted its position in Global-E Online by 226.1% in the 3rd quarter. Quarry LP now owns 2,286 shares of the company's stock valued at $88,000 after buying an additional 1,585 shares during the period. Institutional investors and hedge funds own 94.60% of the company's stock.

Global-E Online Trading Up 2.9 %

NASDAQ GLBE traded up $1.07 during trading hours on Friday, reaching $37.91. The company had a trading volume of 1,651,117 shares, compared to its average volume of 1,265,690. The stock has a market capitalization of $6.23 billion, a P/E ratio of -86.16, a price-to-earnings-growth ratio of 4.61 and a beta of 1.30. The stock has a 50-day moving average of $50.42 and a 200 day moving average of $46.41. Global-E Online has a 1-year low of $28.11 and a 1-year high of $63.69.

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Global-E Online (NASDAQ:GLBE - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.01 earnings per share for the quarter, topping analysts' consensus estimates of ($0.01) by $0.02. The firm had revenue of $262.91 million during the quarter, compared to analysts' expectations of $250.96 million. Global-E Online had a negative net margin of 10.04% and a negative return on equity of 8.56%. The firm's quarterly revenue was up 41.8% on a year-over-year basis. During the same quarter last year, the company posted $0.22 EPS. As a group, sell-side analysts predict that Global-E Online will post 0.25 EPS for the current year.

Analyst Upgrades and Downgrades

GLBE has been the subject of several recent research reports. The Goldman Sachs Group increased their price objective on Global-E Online from $56.00 to $63.00 and gave the company a "buy" rating in a research note on Friday, January 10th. Benchmark lowered their price target on shares of Global-E Online from $68.00 to $64.00 and set a "buy" rating on the stock in a research report on Thursday, February 20th. Morgan Stanley increased their price objective on shares of Global-E Online from $52.00 to $55.00 and gave the company an "equal weight" rating in a report on Tuesday, February 18th. Piper Sandler boosted their target price on Global-E Online from $63.00 to $66.00 and gave the stock an "overweight" rating in a report on Monday, January 6th. Finally, Wells Fargo & Company cut their price target on Global-E Online from $60.00 to $54.00 and set an "overweight" rating for the company in a report on Wednesday, March 5th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $59.08.

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.