Global-e Online Ltd. (NASDAQ:GLBE – Get Rating) saw a large drop in short interest in August. As of August 31st, there was short interest totalling 6,180,000 shares, a drop of 12.1% from the August 15th total of 7,030,000 shares. Approximately 10.4% of the company's stock are sold short. Based on an average daily trading volume, of 1,560,000 shares, the short-interest ratio is currently 4.0 days.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. KeyCorp boosted their target price on Global-e Online from $30.00 to $40.00 and gave the stock an "overweight" rating in a report on Wednesday, August 17th. The Goldman Sachs Group upped their target price on shares of Global-e Online from $31.00 to $40.00 and gave the stock a "buy" rating in a research note on Wednesday, August 17th. Bank of America increased their price target on shares of Global-e Online from $30.00 to $40.00 and gave the company a "buy" rating in a report on Wednesday, August 17th. Raymond James boosted their price objective on shares of Global-e Online from $25.00 to $40.00 and gave the stock an "outperform" rating in a report on Wednesday, August 17th. Finally, Needham & Company LLC lifted their target price on Global-e Online from $25.00 to $44.00 and gave the stock a "buy" rating in a report on Wednesday, August 17th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Global-e Online has a consensus rating of "Buy" and a consensus target price of $40.89.

Global-e Online Stock Down 2.4 %

GLBE traded down $0.78 during mid-day trading on Tuesday, reaching $32.24. 926,276 shares of the company traded hands, compared to its average volume of 1,742,722. The company's fifty day moving average price is $29.07 and its 200-day moving average price is $26.54. The stock has a market capitalization of $5.02 billion, a P/E ratio of -32.29 and a beta of 1.24. Global-e Online has a 52-week low of $15.63 and a 52-week high of $77.38.

Hedge Funds Weigh In On Global-e Online

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Tortoise Index Solutions LLC purchased a new position in shares of Global-e Online during the 4th quarter worth $87,000. Rockefeller Capital Management L.P. bought a new stake in Global-e Online during the fourth quarter valued at about $95,000. Prospera Financial Services Inc purchased a new stake in Global-e Online in the first quarter worth about $71,000. Asset Management One Co. Ltd. raised its stake in shares of Global-e Online by 22.9% in the second quarter. Asset Management One Co. Ltd. now owns 2,418 shares of the company's stock worth $48,000 after buying an additional 451 shares during the period. Finally, Focused Wealth Management Inc raised its stake in shares of Global-e Online by 31.6% in the second quarter. Focused Wealth Management Inc now owns 2,500 shares of the company's stock worth $50,000 after buying an additional 600 shares during the period. Hedge funds and other institutional investors own 68.15% of the company's stock.

About Global-e Online

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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.

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