Global-E Online Target of Unusually High Options Trading (NASDAQ:GLBE)

Global-E Online Ltd. (NASDAQ:GLBE) saw unusually large options trading activity on Wednesday. Stock investors purchased 4,364 call options on the stock. This is an increase of 45% compared to the average volume of 3,001 call options.

Hedge Funds Weigh In On Global-E Online

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GLBE. Fifth Third Bancorp raised its position 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 acquiring an additional 197 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in Global-E Online during the third quarter worth about $32,000. Geneos Wealth Management Inc. raised its position in Global-E Online by 1,968.4% during the fourth quarter. Geneos Wealth Management Inc. now owns 786 shares of the company’s stock worth $43,000 after acquiring an additional 748 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new position in Global-E Online during the fourth quarter worth about $59,000. Finally, Whipplewood Advisors LLC acquired a new position in Global-E Online during the fourth quarter worth about $65,000. Institutional investors and hedge funds own 94.60% of the company’s stock.

Analyst Upgrades and Downgrades

GLBE has been the topic of several research reports. Wells Fargo & Company raised their price objective on shares of Global-E Online from $45.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. The Goldman Sachs Group raised their price objective on shares of Global-E Online from $56.00 to $63.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Raymond James raised their price objective on shares of Global-E Online from $41.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Needham & Company LLC raised their target price on shares of Global-E Online from $55.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Piper Sandler raised their target price on shares of Global-E Online from $63.00 to $66.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $56.67.

Global-E Online Stock Down 17.8 %

Shares of NASDAQ GLBE opened at $50.90 on Thursday. Global-E Online has a 52 week low of $28.11 and a 52 week high of $63.69. The firm has a 50-day moving average price of $56.90 and a 200 day moving average price of $45.55. The stock has a market capitalization of $8.36 billion, a price-to-earnings ratio of -87.76, a price-to-earnings-growth ratio of 6.47 and a beta of 1.23.

Global-E Online (NASDAQ:GLBE) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.02. Global-E Online had a negative net margin of 14.68% and a negative return on equity of 15.05%. The firm had revenue of $262.91 million during the quarter, compared to analysts’ expectations of $250.96 million. During the same quarter last year, the business earned $0.22 earnings per share. The business’s revenue for the quarter was up 41.8% compared to the same quarter last year. Equities research analysts expect that Global-E Online will post -0.47 EPS for the current fiscal year.

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.