Globus Maritime (NASDAQ:GLBS) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

Globus Maritime Limited (NASDAQ:GLBS)’s share price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $1.74 and traded as high as $2.11. Globus Maritime shares last traded at $1.93, with a volume of 110,328 shares.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Globus Maritime in a research note on Monday, May 4th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $3.00.

Globus Maritime Trading Up 1.0%

The firm has a market cap of $43.38 million, a price-to-earnings ratio of -28.71 and a beta of 0.36. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.74 and a quick ratio of 2.54. The firm’s fifty day moving average is $2.00 and its 200-day moving average is $1.75.

Globus Maritime (NASDAQ:GLBS) last released its earnings results on Monday, March 16th. The shipping company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.14. The business had revenue of $13.45 million for the quarter, compared to analyst estimates of $11.60 million. Globus Maritime had a negative net margin of 3.95% and a negative return on equity of 1.00%.

Insider Transactions at Globus Maritime

In other Globus Maritime news, Director Georgios Feidakis purchased 38,947 shares of the company’s stock in a transaction on Tuesday, March 24th. The shares were purchased at an average cost of $1.79 per share, with a total value of $69,715.13. Following the completion of the purchase, the director owned 5,955,827 shares in the company, valued at $10,660,930.33. This represents a 0.66% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders purchased 80,032 shares of company stock valued at $141,388 over the last quarter. 59.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Globus Maritime

Institutional investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC bought a new stake in shares of Globus Maritime during the fourth quarter worth about $127,000. Jane Street Group LLC acquired a new stake in shares of Globus Maritime in the 4th quarter worth about $58,000. Finally, XTX Topco Ltd raised its holdings in shares of Globus Maritime by 64.6% in the 4th quarter. XTX Topco Ltd now owns 21,209 shares of the shipping company’s stock worth $37,000 after acquiring an additional 8,327 shares during the last quarter. 31.60% of the stock is owned by institutional investors and hedge funds.

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.