Insider Buying: Globus Maritime (NASDAQ:GLBS) Director Buys $315,606.50 in Stock

Globus Maritime Limited (NASDAQ:GLBS) Director Georgios Feidakis purchased 114,766 shares of Globus Maritime stock in a transaction dated Monday, July 13th. The stock was bought at an average price of $2.75 per share, for a total transaction of $315,606.50. Following the completion of the transaction, the director directly owned 6,578,633 shares in the company, valued at $18,091,240.75. The trade was a 1.78% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Georgios Feidakis also recently made the following trade(s):

• On Thursday, June 18th, Georgios Feidakis acquired 106,400 shares of Globus Maritime stock. The shares were bought at an average cost of $2.70 per share, with a total value of $287,280.00.

Globus Maritime Trading Down 1.4%

NASDAQ GLBS traded down $0.04 on Tuesday, reaching $2.73. The company had a trading volume of 43,306 shares, compared to its average volume of 108,113. Globus Maritime Limited has a 52 week low of $1.00 and a 52 week high of $3.24. The stock’s 50 day moving average is $2.43 and its 200-day moving average is $2.06. The company has a quick ratio of 2.45, a current ratio of 2.65 and a debt-to-equity ratio of 0.56. The stock has a market cap of $58.91 million, a price-to-earnings ratio of 54.61 and a beta of 0.26.

Globus Maritime (NASDAQ:GLBS) last issued its earnings results on Thursday, June 11th. The shipping company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.10. The firm had revenue of $12.25 million for the quarter, compared to analysts’ expectations of $10.40 million. Globus Maritime had a return on equity of 0.47% and a net margin of 1.72%.

Hedge Funds Weigh In On Globus Maritime

A number of large investors have recently bought and sold shares of the company. Renaissance Technologies LLC bought a new position in shares of Globus Maritime during the 4th quarter worth approximately $127,000. Jane Street Group LLC bought a new stake in shares of Globus Maritime in the fourth quarter worth $58,000. NewEdge Advisors LLC bought a new stake in shares of Globus Maritime in the first quarter worth $37,000. Finally, XTX Topco Ltd boosted its holdings in Globus Maritime by 64.6% during the fourth quarter. XTX Topco Ltd now owns 21,209 shares of the shipping company’s stock worth $37,000 after purchasing an additional 8,327 shares during the last quarter. Institutional investors and hedge funds own 31.60% of the company’s stock.

Analysts Set New Price Targets

GLBS has been the subject of several recent analyst reports. Maxim Group upped their target price on shares of Globus Maritime from $3.00 to $5.00 and gave the company a “buy” rating in a research note on Monday, June 15th. Weiss Ratings raised shares of Globus Maritime from a “sell (d+)” rating to a “hold (c)” rating in a research report on Friday, June 12th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $5.00.

Globus Maritime Company Profile

Globus Maritime Ltd. is a dry bulk shipping company incorporated in the Republic of the Marshall Islands in 2007 and headquartered in Athens, Greece. The firm owns and operates a fleet of Capesize dry bulk carriers, each with a carrying capacity of approximately 170,000 to 180,000 deadweight tons (dwt). These vessels transport key commodities such as iron ore, coal and grains under time and voyage charter agreements.

After completing its initial public offering on the NASDAQ in 2014, Globus Maritime has pursued strategic fleet growth through acquisitions of modern secondhand vessels.