Globus Maritime (NASDAQ:GLBS) Announces Quarterly Earnings Results, Beats Expectations By $0.10 EPS

Globus Maritime (NASDAQ:GLBS) announced its quarterly earnings data on Wednesday. The shipping company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.05) by $0.10, FiscalAI reports. Globus Maritime had a net margin of 1.72% and a return on equity of 0.47%. The company had revenue of $12.25 million for the quarter, compared to the consensus estimate of $10.00 million.

Globus Maritime Stock Performance

Shares of NASDAQ GLBS opened at $2.24 on Friday. The firm’s 50-day moving average price is $2.10 and its 200-day moving average price is $1.85. 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 cap of $48.34 million, a PE ratio of 44.81 and a beta of 0.33. Globus Maritime has a 52-week low of $1.00 and a 52-week high of $2.44.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d+)” rating on shares of Globus Maritime in a research report on Monday, May 4th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $3.00.

Insider Activity

In related news, Director Georgios Feidakis purchased 38,947 shares of the company’s stock in a transaction dated Tuesday, March 24th. The shares were purchased at an average price of $1.79 per share, with a total value of $69,715.13. Following the acquisition, the director directly owned 5,955,827 shares in the company, valued at $10,660,930.33. The trade was a 0.66% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders have bought 80,032 shares of company stock worth $141,388. Company insiders own 59.20% of the company’s stock.

Institutional Trading of Globus Maritime

A number of institutional investors have recently made changes to their positions in GLBS. Renaissance Technologies LLC purchased a new stake in shares of Globus Maritime during the 4th quarter valued at about $127,000. Jane Street Group LLC purchased a new stake in shares of Globus Maritime during the 4th quarter valued at about $58,000. Finally, XTX Topco Ltd boosted its holdings in shares of Globus Maritime by 64.6% during the 4th 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 during the last quarter. 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.