Globus Maritime (NASDAQ:GLBS) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Globus Maritime (NASDAQ:GLBS) to a strong-buy rating in a research note published on Saturday morning.

Several other research analysts have also recently weighed in on GLBS. Weiss Ratings raised shares of Globus Maritime from a “sell (d+)” rating to a “hold (c)” rating in a report on Friday, June 12th. Maxim Group upped their target price on Globus Maritime from $3.00 to $5.00 and gave the company a “buy” rating in a research report on Monday, June 15th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $5.00.

Globus Maritime Stock Performance

Shares of NASDAQ GLBS opened at $2.83 on Friday. The company has a current ratio of 2.65, a quick ratio of 2.45 and a debt-to-equity ratio of 0.56. Globus Maritime has a 12 month low of $1.00 and a 12 month high of $3.24. The stock has a 50 day moving average of $2.50 and a 200-day moving average of $2.09. The company has a market capitalization of $61.07 million, a P/E ratio of 56.61 and a beta of 0.26.

Globus Maritime (NASDAQ:GLBS) last posted its earnings results on Thursday, June 11th. The shipping company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.10. Globus Maritime had a return on equity of 0.47% and a net margin of 1.72%.The business had revenue of $12.25 million for the quarter, compared to analyst estimates of $10.40 million.

Insider Transactions at Globus Maritime

In other Globus Maritime news, Director Georgios Feidakis bought 114,766 shares of the firm’s stock in a transaction 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 transaction, the director directly owned 6,578,633 shares in the company, valued at approximately $18,091,240.75. This trade represents a 1.78% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 59.20% of the stock is owned by corporate insiders.

Institutional Trading of Globus Maritime

Several large investors have recently modified their holdings of GLBS. XTX Topco Ltd grew its stake in Globus Maritime by 64.6% during the fourth 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 in the last quarter. NewEdge Advisors LLC acquired a new stake in Globus Maritime in the first quarter valued at about $37,000. Jane Street Group LLC bought a new position in Globus Maritime in the fourth quarter valued at about $58,000. Finally, Renaissance Technologies LLC bought a new position in Globus Maritime in the fourth quarter valued at about $127,000. 31.60% of the stock is owned by institutional investors and hedge funds.

About Globus Maritime

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.