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

Shares of Globus Maritime Limited (NASDAQ:GLBS) passed above its 200-day moving average during trading on Thursday . The stock has a 200-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 trading hands.

Analysts Set New Price Targets

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

Globus Maritime Stock Performance

The firm’s 50 day moving average price is $1.99 and its two-hundred day moving average price is $1.69. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.54 and a current ratio of 2.74. The firm has a market cap of $47.48 million, a PE ratio of -31.42 and a beta of 0.36.

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

Insider Activity at Globus Maritime

In related news, Director Georgios Feidakis acquired 38,947 shares of the firm’s stock in a transaction dated Tuesday, March 24th. The shares were purchased at an average cost of $1.79 per share, for a total transaction of $69,715.13. Following the acquisition, the director owned 5,955,827 shares in the company, valued at $10,660,930.33. The trade was a 0.66% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders have purchased 80,032 shares of company stock valued at $141,388. Corporate insiders own 59.20% of the company’s stock.

Institutional Investors Weigh In On Globus Maritime

Large investors have recently added to or reduced their stakes in the business. XTX Topco Ltd increased its stake in 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 purchased a new stake in Globus Maritime during the 4th quarter worth approximately $58,000. Finally, Renaissance Technologies LLC purchased a new stake in Globus Maritime during the 4th quarter worth approximately $127,000. 31.60% of the stock is owned by hedge funds and other institutional investors.

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.