Globus Maritime (NASDAQ:GLBS) Shares Break Above 200 Day Moving Average – Should You Sell?

Globus Maritime Limited (NASDAQ:GLBS)’s stock price crossed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $2.80 and traded as high as $3.56. Globus Maritime shares last traded at $3.50, with a volume of 74,161 shares trading hands.

Analyst Upgrades and Downgrades

GLBS has been the subject of several analyst reports. Wall Street Zen upgraded Globus Maritime to a “strong-buy” rating in a report on Saturday, July 18th. Weiss Ratings raised Globus Maritime from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, August 11th. Finally, Maxim Group increased their price objective on Globus Maritime from $3.00 to $5.00 and gave the company a “buy” rating in a research note on Monday, June 15th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $5.00.

Globus Maritime Trading Down 4.3%

The firm has a market cap of $72.29 million, a PE ratio of 10.15 and a beta of 0.29. The firm has a fifty day simple moving average of $3.57 and a two-hundred day simple moving average of $2.80. The company has a current ratio of 2.77, a quick ratio of 2.68 and a debt-to-equity ratio of 0.54.

Globus Maritime (NASDAQ:GLBS) last announced its earnings results on Friday, August 7th. The shipping company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.09. Globus Maritime had a return on equity of 3.80% and a net margin of 12.72%. The company had revenue of $14.61 million during the quarter, compared to the consensus estimate of $13.90 million.

Insider Buying and Selling

In related news, Director Georgios Feidakis bought 114,766 shares of the company’s stock in a transaction dated Monday, July 13th. The stock was purchased at an average cost of $2.75 per share, with a total value of $315,606.50. Following the transaction, the director owned 6,578,633 shares in the company, valued at approximately $18,091,240.75. This trade represents a 1.78% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 59.20% of the company’s stock.

Institutional Trading of Globus Maritime

Several large investors have recently bought and sold shares of GLBS. NewEdge Advisors LLC grew its holdings in shares of Globus Maritime by 189.4% during the 2nd quarter. NewEdge Advisors LLC now owns 46,939 shares of the shipping company’s stock worth $140,000 after acquiring an additional 30,717 shares during the period. AXQ Capital LP purchased a new position in shares of Globus Maritime in the 2nd quarter valued at approximately $39,000. Finally, Renaissance Technologies LLC lifted its stake in shares of Globus Maritime by 96.8% in the 1st 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 period. 31.60% of the stock is owned by institutional investors.

About Globus Maritime

Globus Maritime Limited (NASDAQ: GLBS) is an international dry bulk shipping company headquartered in Athens, Greece. The company owns and operates oceangoing dry bulk vessels that transport major and minor bulk commodities for customers around the world.

Its vessels carry cargoes such as iron ore, grain, steel products, fertilizers, cement and other dry bulk materials. Globus Maritime’s activities include vessel ownership, chartering and the commercial and technical management of its fleet, with employment arrangements varying according to market conditions and customer requirements.

Founded in 2006, Globus Maritime serves international trade routes connecting major commodity-producing and consuming regions.