Globavend (NASDAQ:GVH) Shares Down 0.4% – Here’s What Happened

Globavend Holdings Limited (NASDAQ:GVH)’s stock price dropped 0.4% during trading on Monday . The company traded as low as $4.65 and last traded at $4.89. Approximately 13,277 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 65,569 shares. The stock had previously closed at $4.91.

Wall Street Analysts Forecast Growth

GVH has been the subject of a number of research reports. Weiss Ratings upgraded shares of Globavend from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, May 20th. Wall Street Zen upgraded shares of Globavend to a “hold” rating in a report on Saturday, May 9th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $80.00.

Globavend Stock Down 0.4%

The business’s 50 day simple moving average is $3.36 and its two-hundred day simple moving average is $2.55.

Globavend (NASDAQ:GVH) last released its quarterly earnings data on Friday, February 13th. The company reported ($2.20) earnings per share for the quarter. The business had revenue of $4.92 million for the quarter. On average, equities research analysts anticipate that Globavend Holdings Limited will post 0.66 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Connective Capital Management LLC bought a new position in shares of Globavend in the fourth quarter valued at $253,000. Sabby Management LLC bought a new position in shares of Globavend in the fourth quarter valued at $257,000. Finally, Jane Street Group LLC bought a new position in shares of Globavend during the second quarter valued at about $29,000.

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.