Globus Maritime (NASDAQ:GLBS) Issues Earnings Results, Beats Estimates By $0.14 EPS

Globus Maritime (NASDAQ:GLBS) posted its quarterly earnings results on Monday. The shipping company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.14, Zacks reports. Globus Maritime had a negative return on equity of 2.65% and a negative net margin of 11.72%.The business had revenue of $13.45 million for the quarter, compared to the consensus estimate of $11.60 million.

Globus Maritime Trading Up 3.8%

NASDAQ:GLBS opened at $1.76 on Tuesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.34 and a quick ratio of 2.22. Globus Maritime has a one year low of $0.99 and a one year high of $2.23. The company has a market cap of $36.12 million, a PE ratio of -7.98 and a beta of 0.48. The firm has a 50-day moving average of $1.76 and a 200-day moving average of $1.46.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Globus Maritime in a report on Thursday, January 22nd. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Globus Maritime presently has an average rating of “Hold” and a consensus target price of $3.00.

Institutional Trading of Globus Maritime

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC purchased a new stake in shares of Globus Maritime in the fourth quarter worth approximately $127,000. Jane Street Group LLC purchased a new position in shares of Globus Maritime during the fourth quarter valued at approximately $58,000. Finally, XTX Topco Ltd grew 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 buying an additional 8,327 shares in the last quarter. 31.60% of the stock is owned by institutional investors.

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.