Globus Maritime (NASDAQ:GLBS) Stock Passes Above 200-Day Moving Average – Here’s What Happened

Globus Maritime Limited (NASDAQ:GLBS)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.19 and traded as high as $3.29. Globus Maritime shares last traded at $3.10, with a volume of 113,577 shares traded.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on GLBS. Wall Street Zen raised Globus Maritime to a “strong-buy” rating in a report on Saturday, July 18th. Weiss Ratings raised Globus Maritime from a “sell (d+)” rating to a “hold (c)” rating in a report on Friday, June 12th. Finally, Maxim Group lifted their price objective on shares of Globus Maritime from $3.00 to $5.00 and gave the company a “buy” rating in a research report on Monday, June 15th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Globus Maritime currently has an average rating of “Moderate Buy” and a consensus price target of $5.00.

Globus Maritime Stock Performance

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 has a market cap of $68.41 million, a price-to-earnings ratio of 63.41 and a beta of 0.29. The stock’s 50-day moving average is $2.73 and its 200 day moving average is $2.20.

Globus Maritime (NASDAQ:GLBS) last released its earnings results on Thursday, June 11th. The shipping company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.10. The company 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%.

Insider Buying and Selling at Globus Maritime

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

Institutional Investors Weigh In On Globus Maritime

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC acquired a new position in shares of Globus Maritime during the 4th quarter worth $127,000. Jane Street Group LLC purchased a new stake in Globus Maritime during the fourth quarter worth about $58,000. XTX Topco Ltd grew its position 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 buying an additional 8,327 shares during the period. Finally, NewEdge Advisors LLC acquired a new position in Globus Maritime during the first quarter worth about $37,000. Institutional investors and hedge funds own 31.60% of the company’s stock.

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.