Globus Maritime (NASDAQ:GLBS) Stock Crosses Above 200 Day Moving Average – What’s Next?

Globus Maritime Limited (NASDAQ:GLBS) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.55 and traded as high as $2.40. Globus Maritime shares last traded at $2.21, with a volume of 94,763 shares.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Globus Maritime in a research 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. Based on data from MarketBeat.com, Globus Maritime presently has a consensus rating of “Hold” and a consensus price target of $3.00.

Globus Maritime Stock Up 2.3%

The company has a quick ratio of 2.54, a current ratio of 2.74 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $47.26 million, a PE ratio of -31.28 and a beta of 0.46. The stock has a 50-day moving average of $1.86 and a 200 day moving average of $1.56.

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

Insider Buying and Selling

In other news, Director Georgios Feidakis bought 38,947 shares of the stock in a transaction on Tuesday, March 24th. The shares were purchased at an average cost of $1.79 per share, for a total transaction of $69,715.13. Following the completion of the purchase, the director directly owned 5,955,827 shares in the company, valued at $10,660,930.33. This represents a 0.66% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders purchased a total of 80,032 shares of company stock valued at $141,388 in the last quarter. 59.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Globus Maritime

Several large investors have recently added to or reduced their stakes in GLBS. XTX Topco Ltd increased its holdings in 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. Jane Street Group LLC purchased a new stake in Globus Maritime in the 4th quarter worth about $58,000. Finally, Renaissance Technologies LLC purchased a new stake in Globus Maritime in the 4th quarter worth about $127,000. Hedge funds and other institutional investors own 31.60% of the company’s stock.

About Globus Maritime

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.