Gulf Marine Services (LON:GMS) Trading Up 12.2% – Here’s Why

Gulf Marine Services PLC (LON:GMS) shares shot up 12.2% on Thursday . The company traded as high as GBX 17.83 ($0.22) and last traded at GBX 17.50 ($0.22). 19,376,670 shares were traded during trading, an increase of 218% from the average session volume of 6,093,337 shares. The stock had previously closed at GBX 15.60 ($0.19).

Gulf Marine Services Stock Up 12.2 %

The stock has a market capitalization of £187.25 million, a price-to-earnings ratio of 583.33 and a beta of 1.90. The business’s 50-day moving average is GBX 15.76 and its two-hundred day moving average is GBX 16.62. The company has a quick ratio of 0.80, a current ratio of 0.16 and a debt-to-equity ratio of 71.75.

Insider Buying and Selling

In other news, insider Charbel El Khoury bought 13,455 shares of the firm’s stock in a transaction on Tuesday, December 17th. The shares were bought at an average cost of GBX 15 ($0.18) per share, for a total transaction of £2,018.25 ($2,484.61). 51.56% of the stock is currently owned by company insiders.

Gulf Marine Services Company Profile

Gulf Marine Services PLC was founded in Abu Dhabi in 1977 and has become a world leading provider of advanced self-propelled self-elevating support vessels (SESVs). The fleet serves the oil, gas and renewable energy industries from its offices in the United Arab Emirates, Saudi Arabia and Qatar. The Group’s assets are capable of serving clients’ requirements across the globe, including those in the Middle East, South East Asia, West Africa, North America, the Gulf of Mexico and Europe.
The GMS fleet of 13 SESVs is amongst the youngest in the industry, with an average age of eight years.