Stock traders are buying a high volume of call options on Global-e Online (NASDAQ: GLBE)
Global-e Online Ltd. (NASDAQ: GLBE – Get Rating) saw unusually heavy options trading activity on Tuesday. Stock traders acquired 2,598 call options on the stock. This is an increase of approximately 113% from the average daily volume of 1,218 call options.
Wall Street analysts predict growth
Several equity research analysts have recently weighed in on the stock. Needham & Company LLC lowered its price target on Global-e Online shares from $75.00 to $25.00 and set a “buy” rating for the company in a Tuesday, May 17 research report . Jefferies Financial Group cut its price target on Global-e Online shares from $70.00 to $31.00 in a Tuesday, May 17 research note. KeyCorp raised its price target on Global-e Online shares from $25.00 to $30.00 and gave the stock an “overweight” rating in a Thursday, July 7 research note. JMP Securities cut its price target on Global-e Online shares from $80.00 to $41.00 and set a “market outperformance” rating for the company in a Tuesday, May 17 research note. Finally, Goldman Sachs Group raised its price target on Global-e Online shares from $28.00 to $31.00 and gave the stock a “buy” rating in a Thursday 14 research note. July. Nine equity research analysts rated the stock with a buy rating. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $40.11.
Global-e online price performance
GLBE stock opened at $34.00 on Wednesday. The company has a market capitalization of $5.29 billion, a P/E ratio of -36.17 and a beta of 1.68. The company’s 50-day simple moving average is $23.19 and its 200-day simple moving average is $27.41. Global-e Online has a 52 week minimum of $15.63 and a 52 week maximum of $83.77.
Global-e Online (NASDAQ:GLBE – Get Rating) last released its quarterly earnings data on Monday, May 16. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.02). Global-e Online had a negative return on equity of 0.18% and a negative net margin of 46.02%. The company posted revenue of $76.32 million for the quarter, versus a consensus estimate of $75.67 million. Sell-side analysts expect Global-e Online to post -1.17 EPS for the current fiscal year.
Institutional investors weigh in on Global-e Online
A number of hedge funds have recently changed their positions in GLBE. Tortoise Index Solutions LLC purchased a new position in Global-e Online during Q4 for a value of approximately $87,000. Rockefeller Capital Management LP bought a new position in Global-e Online during the fourth quarter worth $95,000. Asset Management One Co. Ltd. bought a new position in Global-e Online during the fourth quarter worth $97,000. Prospera Financial Services Inc purchased a new stake in shares of Global-e Online in the first quarter worth approximately $71,000. Finally, Focused Wealth Management Inc increased its position in Global-e Online shares by 31.6% in the second quarter. Focused Wealth Management Inc now owns 2,500 shares of the company valued at $50,000 after acquiring an additional 600 shares during the period. Institutional investors and hedge funds hold 69.42% of the company’s shares.
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 UK, the US and internationally. Its platform allows international buyers to buy online and merchants to sell from and to all over the world.
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