Globus Maritime (NASDAQ:GLBS) Stock Breaks Above 200-Day Moving Average – Here’s Why

Globus Maritime Limited (NASDAQ:GLBS) passed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $2.85 and traded as high as $3.25. Globus Maritime shares last traded at $3.10, with a volume of 79,381 shares.

Analyst Ratings Changes

GLBS has been the subject of a number of research reports. Wall Street Zen raised Globus Maritime to a “strong-buy” rating in a research note on Saturday, July 18th. Weiss Ratings upgraded Globus Maritime from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, August 11th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Globus Maritime presently has an average rating of “Moderate Buy” and an average price target of $5.00.

Globus Maritime Stock Down 3.1%

The firm has a market capitalization of $66.90 million, a price-to-earnings ratio of 9.39 and a beta of 0.29. The business has a fifty day moving average price of $3.58 and a two-hundred day moving average price of $2.85. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.77 and a quick ratio of 2.68.

Globus Maritime (NASDAQ:GLBS) last released its quarterly earnings results on Friday, August 7th. The shipping company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.10 by $0.09. Globus Maritime had a net margin of 12.72% and a return on equity of 3.80%. The company had revenue of $14.61 million for the quarter, compared to analyst estimates of $13.90 million.

Institutional Trading of Globus Maritime

Several large investors have recently bought and sold shares of the business. AXQ Capital LP acquired a new stake in shares of Globus Maritime in the 2nd quarter worth $39,000. NewEdge Advisors LLC acquired a new stake in shares of Globus Maritime during the 1st quarter worth approximately $37,000. Finally, Renaissance Technologies LLC raised its position in Globus Maritime by 96.8% in the first quarter. Renaissance Technologies LLC now owns 143,100 shares of the shipping company’s stock valued at $331,000 after purchasing an additional 70,400 shares during the period. Hedge funds and other institutional investors own 31.60% of the company’s stock.

About Globus Maritime

Globus Maritime Limited (NASDAQ: GLBS) is an international dry bulk shipping company headquartered in Athens, Greece. The company owns and operates oceangoing dry bulk vessels that transport major and minor bulk commodities for customers around the world.

Its vessels carry cargoes such as iron ore, grain, steel products, fertilizers, cement and other dry bulk materials. Globus Maritime’s activities include vessel ownership, chartering and the commercial and technical management of its fleet, with employment arrangements varying according to market conditions and customer requirements.

Founded in 2006, Globus Maritime serves international trade routes connecting major commodity-producing and consuming regions.