Globus Maritime (NASDAQ:GLBS) Issues Earnings Results, Beats Expectations By $0.10 EPS

Globus Maritime (NASDAQ:GLBS) announced its quarterly earnings results on Wednesday. The shipping company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.10, FiscalAI reports. Globus Maritime had a negative return on equity of 1.00% and a negative net margin of 3.95%.The company had revenue of $12.25 million during the quarter, compared to the consensus estimate of $10.00 million.

Globus Maritime Trading Down 0.9%

Shares of Globus Maritime stock traded down $0.02 during trading hours on Wednesday, hitting $2.14. The company’s stock had a trading volume of 98,688 shares, compared to its average volume of 72,627. Globus Maritime has a 12 month low of $1.00 and a 12 month high of $2.44. The stock has a 50 day moving average of $2.10 and a 200 day moving average of $1.84. The company has a market capitalization of $46.18 million, a PE ratio of -30.57 and a beta of 0.33. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.74 and a quick ratio of 2.54.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d+)” rating on shares of Globus Maritime in a report on Monday, May 4th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $3.00.

Insider Buying and Selling at Globus Maritime

In other news, Director Georgios Feidakis acquired 38,947 shares of Globus Maritime stock in a transaction dated Tuesday, March 24th. The stock was bought at an average cost of $1.79 per share, with a total value of $69,715.13. Following the completion of the transaction, the director directly owned 5,955,827 shares of the company’s stock, valued at approximately $10,660,930.33. This represents a 0.66% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders bought 80,032 shares of company stock worth $141,388 over the last ninety days. 59.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. XTX Topco Ltd boosted its position in Globus Maritime by 64.6% during the fourth 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 during the last quarter. Jane Street Group LLC acquired a new stake in shares of Globus Maritime in the fourth quarter valued at approximately $58,000. Finally, Renaissance Technologies LLC acquired a new stake in shares of Globus Maritime in the fourth quarter valued at approximately $127,000. 31.60% of the stock is owned by institutional investors and hedge funds.

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.