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

Globus Maritime Limited (NASDAQ:GLBS)’s stock price passed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $2.61 and traded as high as $2.78. Globus Maritime shares last traded at $2.75, with a volume of 170,537 shares trading hands.

Analyst Upgrades and Downgrades

GLBS has been the topic of a number of recent analyst reports. Wall Street Zen upgraded shares of Globus Maritime to a “strong-buy” rating in a research note on Saturday, July 18th. Weiss Ratings reissued a “hold (c+)” rating on shares of Globus Maritime in a report on Wednesday, November 4th. One equities research 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, the company presently has a consensus rating of “Moderate Buy” and an average target price of $5.00.

Globus Maritime Stock Up 5.8%

The company has a debt-to-equity ratio of 0.54, a current ratio of 2.77 and a quick ratio of 2.68. The company has a market capitalization of $59.34 million, a price-to-earnings ratio of 8.33 and a beta of 0.31. The firm’s 50-day simple moving average is $3.31 and its two-hundred day simple moving average is $2.61.

Institutional Investors Weigh In On Globus Maritime

A number of institutional investors and hedge funds have recently modified their holdings of the company. NewEdge Advisors LLC raised its holdings in Globus Maritime by 189.4% during the second quarter. NewEdge Advisors LLC now owns 46,939 shares of the shipping company’s stock worth $140,000 after purchasing an additional 30,717 shares during the last quarter. AXQ Capital LP acquired a new stake in Globus Maritime in the second quarter valued at $39,000. Finally, Renaissance Technologies LLC grew its holdings 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 last quarter. 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 that owns, operates and manages ocean-going vessels used to transport commodities in international trade. Its vessels carry bulk cargoes such as iron ore, coal, grain and other agricultural or industrial materials. The company’s services are provided primarily through the chartering of its vessels to customers, including commodity producers, traders and other participants in the global supply chain. Dry bulk shipping routes can connect major exporting and importing regions across the Americas, Europe, Asia, Africa and Oceania, depending on customer demand and vessel deployment.