Gulf Marine Services (LON:GMS) Shares Up 11.7% – Here’s Why

Gulf Marine Services PLC (LON:GMS) shares were up 11.7% during mid-day trading on Thursday . The company traded as high as GBX 17.45 ($0.21) and last traded at GBX 17.42 ($0.21). Approximately 16,330,703 shares were traded during trading, an increase of 177% from the average daily volume of 5,902,964 shares. The stock had previously closed at GBX 15.60 ($0.19).

Gulf Marine Services Price Performance

The company has a debt-to-equity ratio of 71.75, a quick ratio of 0.80 and a current ratio of 0.16. The company has a market capitalization of £189.04 million, a price-to-earnings ratio of 588.90 and a beta of 1.90. The company has a 50-day moving average price of GBX 15.76 and a 200-day moving average price of GBX 16.62.

Insider Activity at Gulf Marine Services

In other Gulf Marine Services news, insider Charbel El Khoury bought 13,455 shares of Gulf Marine Services stock in a transaction on Tuesday, December 17th. The shares were purchased at an average cost of GBX 15 ($0.18) per share, for a total transaction of £2,018.25 ($2,484.61). Corporate insiders own 51.56% of the company’s stock.

About Gulf Marine Services

Gulf Marine Services PLC was founded in Abu Dhabi in 1977 and has become a world leading provider of advanced self-propelled self-elevating support vessels (SESVs). The fleet serves the oil, gas and renewable energy industries from its offices in the United Arab Emirates, Saudi Arabia and Qatar. The Group’s assets are capable of serving clients’ requirements across the globe, including those in the Middle East, South East Asia, West Africa, North America, the Gulf of Mexico and Europe.
The GMS fleet of 13 SESVs is amongst the youngest in the industry, with an average age of eight years.