Globus Maritime (NASDAQ:GLBS) Issues Earnings Results

Globus Maritime (NASDAQ:GLBS) released its earnings results on Friday. The shipping company reported $0.19 earnings per share for the quarter, Zacks reports. Globus Maritime had a net margin of 1.72% and a return on equity of 0.47%.

Globus Maritime Stock Performance

GLBS stock traded up $0.02 during midday trading on Friday, reaching $3.19. 132,582 shares of the company were exchanged, compared to its average volume of 108,811. Globus Maritime has a one year low of $1.00 and a one year high of $3.29. The firm has a market capitalization of $68.84 million, a price-to-earnings ratio of 63.81 and a beta of 0.29. The business has a 50-day moving average price of $2.75 and a two-hundred day moving average price of $2.21. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.65 and a quick ratio of 2.45.

Analyst Upgrades and Downgrades

GLBS has been the topic of several analyst reports. Wall Street Zen raised shares of Globus Maritime to a “strong-buy” rating in a research report on Saturday, July 18th. Maxim Group boosted their price objective on shares of Globus Maritime from $3.00 to $5.00 and gave the stock a “buy” rating in a research note on Monday, June 15th. Finally, Weiss Ratings raised shares of Globus Maritime from a “sell (d+)” rating to a “hold (c)” rating in a report on Friday, June 12th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $5.00.

Insider Transactions at Globus Maritime

In related news, Director Georgios Feidakis acquired 114,766 shares of the business’s stock in a transaction on Monday, July 13th. The stock was purchased at an average cost of $2.75 per share, for a total transaction of $315,606.50. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 59.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Globus Maritime

Large investors have recently made changes to their positions in the company. Renaissance Technologies LLC acquired a new position in Globus Maritime in the 4th quarter valued at $127,000. Jane Street Group LLC bought a new stake in shares of Globus Maritime in the fourth quarter valued at about $58,000. Finally, XTX Topco Ltd grew its stake in shares of Globus Maritime by 64.6% in the fourth quarter. XTX Topco Ltd now owns 21,209 shares of the shipping company’s stock valued at $37,000 after acquiring an additional 8,327 shares in the last quarter. Institutional investors own 31.60% of the company’s stock.

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.