Globus Maritime (NASDAQ:GLBS) Share Price Crosses Above 200-Day Moving Average – Here’s Why

Shares of Globus Maritime Limited (NASDAQ:GLBS) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $2.14 and traded as high as $3.02. Globus Maritime shares last traded at $2.92, with a volume of 130,867 shares.

Wall Street Analysts Forecast Growth

GLBS has been the subject of several research reports. Maxim Group lifted their target price on shares of Globus Maritime from $3.00 to $5.00 and gave the company a “buy” rating in a report on Monday, June 15th. Weiss Ratings upgraded Globus Maritime from a “sell (d+)” rating to a “hold (c)” rating in a research note on Friday, June 12th. Finally, Wall Street Zen upgraded Globus Maritime to a “strong-buy” rating in a research report on Saturday, July 18th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Globus Maritime has an average rating of “Moderate Buy” and an average price target of $5.00.

Globus Maritime Price Performance

The company has a market capitalization of $61.50 million, a PE ratio of 57.01 and a beta of 0.26. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.65 and a quick ratio of 2.45. The stock’s 50 day simple moving average is $2.61 and its 200-day simple moving average is $2.15.

Globus Maritime (NASDAQ:GLBS) last posted its quarterly earnings data on Thursday, June 11th. The shipping company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.05) by $0.10. The business had revenue of $12.25 million during the quarter, compared to analyst estimates of $10.40 million. Globus Maritime had a net margin of 1.72% and a return on equity of 0.47%.

Insider Buying and Selling

In other Globus Maritime news, Director Georgios Feidakis purchased 114,766 shares of the company’s stock in a transaction on Monday, July 13th. The stock was acquired at an average price of $2.75 per share, for a total transaction of $315,606.50. Following the completion of the purchase, the director directly owned 6,578,633 shares in the company, valued at approximately $18,091,240.75. The trade was a 1.78% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 59.20% of the stock is owned by corporate insiders.

Institutional Trading of Globus Maritime

Several hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC purchased a new position in Globus Maritime in the fourth quarter valued at $127,000. Jane Street Group LLC purchased a new stake in Globus Maritime during the 4th quarter worth about $58,000. NewEdge Advisors LLC purchased a new stake in Globus Maritime during the 1st quarter worth about $37,000. Finally, XTX Topco Ltd raised its position in Globus Maritime by 64.6% in the 4th quarter. XTX Topco Ltd now owns 21,209 shares of the shipping company’s stock valued at $37,000 after purchasing an additional 8,327 shares in the last quarter. 31.60% of the stock is currently owned by institutional investors and hedge funds.

About Globus Maritime

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.