Gulf Marine Services (LON:GMS) Trading 12.2% Higher – Here’s Why

Gulf Marine Services PLC (LON:GMS) shares shot up 12.2% during mid-day trading on Thursday . The stock traded as high as GBX 17.83 ($0.22) and last traded at GBX 17.50 ($0.22). 15,847,470 shares changed hands during trading, an increase of 170% from the average session volume of 5,872,762 shares. The stock had previously closed at GBX 15.60 ($0.19).

Gulf Marine Services Stock Performance

The business’s fifty day moving average price is GBX 15.76 and its 200-day moving average price is GBX 16.62. The stock has a market cap of £187.25 million, a PE ratio of 583.33 and a beta of 1.90. The company has a debt-to-equity ratio of 71.75, a quick ratio of 0.80 and a current ratio of 0.16.

Insider Buying and Selling

In other Gulf Marine Services news, insider Charbel El Khoury bought 13,455 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The stock was bought at an average cost of GBX 15 ($0.18) per share, for a total transaction of £2,018.25 ($2,484.61). 51.56% of the stock is currently owned by corporate insiders.

About Gulf Marine Services

Gulf Marine Services PLC was founded in Abu Dhabi in 1977 and has become a world leading provider of advanced self-propelled self-elevating support vessels (SESVs). The fleet serves the oil, gas and renewable energy industries from its offices in the United Arab Emirates, Saudi Arabia and Qatar. The Group’s assets are capable of serving clients’ requirements across the globe, including those in the Middle East, South East Asia, West Africa, North America, the Gulf of Mexico and Europe.
The GMS fleet of 13 SESVs is amongst the youngest in the industry, with an average age of eight years.