Globus Maritime (NASDAQ:GLBS) Stock Price Breaks Above Two Hundred Day Moving Average – What’s Next?

Globus Maritime Limited (NASDAQ:GLBS) shares crossed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $2.61 and traded as high as $2.78. Globus Maritime shares last traded at $2.75, with a volume of 170,537 shares.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Globus Maritime in a report on Wednesday, November 4th. Wall Street Zen raised Globus Maritime to a “strong-buy” rating in a research note on Saturday, July 18th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $5.00.

Globus Maritime Stock Down 4.0%

The firm’s fifty day simple moving average is $3.29 and its 200-day simple moving average is $2.62. The company has a market cap of $61.94 million, a PE ratio of 8.70 and a beta of 0.31. The company has a quick ratio of 2.68, a current ratio of 2.77 and a debt-to-equity ratio of 0.54.

Institutional Investors Weigh In On Globus Maritime

A number of large investors have recently bought and sold shares of GLBS. NewEdge Advisors LLC raised 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 acquiring an additional 30,717 shares during the last quarter. AXQ Capital LP purchased a new stake in shares of Globus Maritime in the second quarter valued at $39,000. Finally, Renaissance Technologies LLC lifted its position in shares of Globus Maritime by 96.8% in the first quarter. Renaissance Technologies LLC now owns 143,100 shares of the shipping company’s stock valued at $331,000 after acquiring an additional 70,400 shares in the last quarter. 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 that owns, operates and manages ocean-going vessels used to transport commodities in international trade. Its vessels carry bulk cargoes such as iron ore, coal, grain and other agricultural or industrial materials. The company’s services are provided primarily through the chartering of its vessels to customers, including commodity producers, traders and other participants in the global supply chain. Dry bulk shipping routes can connect major exporting and importing regions across the Americas, Europe, Asia, Africa and Oceania, depending on customer demand and vessel deployment.