Globus Maritime (NASDAQ:GLBS) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Globus Maritime Limited (NASDAQ:GLBS) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $1.69 and traded as high as $2.42. Globus Maritime shares last traded at $2.20, with a volume of 204,498 shares traded.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d+)” rating on shares of Globus Maritime in a research report on Monday. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Globus Maritime currently has an average rating of “Hold” and a consensus price target of $3.00.

Globus Maritime Stock Performance

The stock has a 50-day moving average of $1.99 and a 200 day moving average of $1.69. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.74 and a quick ratio of 2.54. The stock has a market capitalization of $46.83 million, a price-to-earnings ratio of -31.00 and a beta of 0.36.

Globus Maritime (NASDAQ:GLBS) last announced its quarterly earnings data on Monday, March 16th. The shipping company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.14. The firm had revenue of $13.45 million during the quarter, compared to analyst estimates of $11.60 million. Globus Maritime had a negative return on equity of 1.00% and a negative net margin of 3.95%.

Insider Activity

In related news, Director Georgios Feidakis bought 38,947 shares of the firm’s stock in a transaction dated Tuesday, March 24th. The stock was bought at an average cost of $1.79 per share, for a total transaction of $69,715.13. Following the transaction, the director owned 5,955,827 shares of the company’s stock, valued at $10,660,930.33. This represents a 0.66% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders bought 80,032 shares of company stock worth $141,388. 59.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Globus Maritime

Several institutional investors have recently modified their holdings of the stock. XTX Topco Ltd grew 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 worth $37,000 after buying an additional 8,327 shares during the period. Jane Street Group LLC acquired a new position in shares of Globus Maritime during the 4th quarter worth about $58,000. Finally, Renaissance Technologies LLC acquired a new position in shares of Globus Maritime during the 4th quarter worth about $127,000. 31.60% of the stock is currently 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.