Globus Maritime (NASDAQ:GLBS) Posts Earnings Results, Beats Expectations By $0.09 EPS

Globus Maritime (NASDAQ:GLBS) issued its quarterly earnings data on Friday. The shipping company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.09, Zacks reports. Globus Maritime had a return on equity of 0.47% and a net margin of 1.72%.The business had revenue of $14.61 million during the quarter, compared to the consensus estimate of $13.90 million.

Globus Maritime Price Performance

Shares of Globus Maritime stock traded up $0.02 during trading on Friday, hitting $3.19. The stock had a trading volume of 132,582 shares, compared to its average volume of 121,380. The business has a fifty day moving average of $2.77 and a two-hundred day moving average of $2.22. Globus Maritime has a fifty-two week low of $1.00 and a fifty-two week high of $3.29. The firm has a market cap of $68.84 million, a P/E ratio of 63.81 and a beta of 0.29. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.65 and a quick ratio of 2.45.

Insider Buying and Selling

In other Globus Maritime news, Director Georgios Feidakis purchased 114,766 shares of the company’s stock in a transaction on Monday, July 13th. The shares were 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 owned 6,578,633 shares in the company, valued at $18,091,240.75. The trade was a 1.78% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 59.20% of the company’s stock.

Hedge Funds Weigh In On Globus Maritime

Hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC acquired a new position in Globus Maritime in the fourth quarter worth approximately $127,000. Jane Street Group LLC acquired a new stake in shares of Globus Maritime during the 4th quarter valued at $58,000. Finally, XTX Topco Ltd lifted its position 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. Institutional investors and hedge funds own 31.60% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Maxim Group lifted their target price on Globus Maritime from $3.00 to $5.00 and gave the company a “buy” rating in a research note on Monday, June 15th. Wall Street Zen upgraded shares of Globus Maritime to a “strong-buy” rating in a research note on Saturday, July 18th. 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 equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $5.00.

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.