Globus Maritime (NASDAQ:GLBS) Stock Crosses Above 200-Day Moving Average – Here’s What Happened

Globus Maritime Limited (NASDAQ:GLBS)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $2.58 and traded as high as $3.78. Globus Maritime shares last traded at $3.62, with a volume of 99,916 shares traded.

Wall Street Analyst Weigh In

A number of research firms recently commented on GLBS. Wall Street Zen upgraded Globus Maritime to a “strong-buy” rating in a research report on Saturday, July 18th. Maxim Group raised their target price on Globus Maritime from $3.00 to $5.00 and gave the stock a “buy” rating in a research report on Monday, June 15th. Finally, Weiss Ratings upgraded Globus Maritime from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, August 11th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $5.00.

Globus Maritime Price Performance

The company has a current ratio of 2.77, a quick ratio of 2.68 and a debt-to-equity ratio of 0.54. The firm has a market cap of $82.00 million, a PE ratio of 11.52 and a beta of 0.31. The stock has a 50 day simple moving average of $3.32 and a 200-day simple moving average of $2.59.

Globus Maritime (NASDAQ:GLBS) last posted its quarterly earnings results on Friday, August 7th. The shipping company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.09. The business 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 Activity at Globus Maritime

In other news, Director Georgios Feidakis acquired 114,766 shares of the company’s stock in a transaction on Monday, July 13th. The stock was bought at an average cost of $2.75 per share, with a total value of $315,606.50. Following the completion of the purchase, the director directly owned 6,578,633 shares of the company’s stock, valued at $18,091,240.75. This represents a 1.78% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 59.20% of the company’s stock.

Hedge Funds Weigh In On Globus Maritime

Large investors have recently bought and sold shares of the business. NewEdge Advisors LLC grew its holdings in shares of Globus Maritime by 189.4% in the second quarter. NewEdge Advisors LLC now owns 46,939 shares of the shipping company’s stock worth $140,000 after purchasing an additional 30,717 shares during the last quarter. AXQ Capital LP bought a new stake in Globus Maritime during the 2nd quarter valued at about $39,000. Finally, Renaissance Technologies LLC boosted its position in Globus Maritime by 96.8% in the 1st quarter. Renaissance Technologies LLC now owns 143,100 shares of the shipping company’s stock valued at $331,000 after buying an additional 70,400 shares during the period. Hedge funds and other institutional investors own 31.60% of the company’s stock.

About Globus Maritime

Globus Maritime Limited (NASDAQ: GLBS) is a dry bulk shipping company that owns and operates oceangoing vessels. The company transports bulk commodities for industrial and agricultural customers, including iron ore, coal, grain, steel products and other raw materials.

Globus Maritime’s vessels serve international trade routes, connecting major ports and commodity-producing regions with markets around the world. The company generates revenue primarily through time-charter and voyage-charter arrangements, under which vessels are hired to transport cargo for specified periods or individual voyages.

The company is incorporated in the Marshall Islands and has historically operated from Athens, Greece, a major global shipping center.