Globus Maritime (NASDAQ:GLBS) Stock Passes Above Two Hundred Day Moving Average – Should You Sell?

Globus Maritime Limited (NASDAQ:GLBS) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $2.29 and traded as high as $3.76. Globus Maritime shares last traded at $3.64, with a volume of 152,791 shares traded.

Wall Street Analysts Forecast Growth

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

Globus Maritime Stock Down 2.2%

The firm has a market capitalization of $78.55 million, a PE ratio of 11.03 and a beta of 0.29. The company has a current ratio of 2.77, a quick ratio of 2.45 and a debt-to-equity ratio of 0.54. The firm has a 50-day moving average of $2.92 and a two-hundred day moving average of $2.29.

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

Insider Transactions at Globus Maritime

In other Globus Maritime news, Director Georgios Feidakis purchased 114,766 shares of the business’s stock in a transaction that occurred on Monday, July 13th. The shares were purchased at an average price of $2.75 per share, for a total transaction of $315,606.50. Following the completion of the acquisition, the director owned 6,578,633 shares of the company’s stock, valued at approximately $18,091,240.75. This 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 Investors Weigh In On Globus Maritime

Several large investors have recently made changes to their positions in the business. Renaissance Technologies LLC acquired a new position in shares of Globus Maritime during the 4th quarter valued at $127,000. Jane Street Group LLC acquired a new stake in Globus Maritime in the 4th quarter valued at $58,000. 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 valued at $37,000 after purchasing an additional 8,327 shares in the last quarter. Finally, NewEdge Advisors LLC acquired a new stake in Globus Maritime in the 1st quarter valued at $37,000. Institutional investors and hedge funds own 31.60% of the company’s stock.

Globus Maritime Company Profile

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.