Globus Maritime (NASDAQ:GLBS) Issues Earnings Results

Globus Maritime (NASDAQ:GLBS) announced its 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 net margin of 3.95% and a negative return on equity of 1.00%. The company had revenue of $12.25 million for the quarter, compared to analysts’ expectations of $10.00 million.

Globus Maritime Stock Performance

Shares of Globus Maritime stock opened at $2.14 on Thursday. Globus Maritime has a one year low of $1.00 and a one year high of $2.44. The company has a market cap of $46.18 million, a price-to-earnings ratio of -30.57 and a beta of 0.33. 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 business’s 50 day moving average price is $2.10 and its 200 day moving average price is $1.84.

Insider Transactions at Globus Maritime

In related news, Director Georgios Feidakis bought 38,947 shares of the company’s stock in a transaction on 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 acquisition, the director directly owned 5,955,827 shares in the company, valued at $10,660,930.33. This represents a 0.66% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In the last three months, insiders acquired 80,032 shares of company stock valued at $141,388. 59.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of GLBS. XTX Topco Ltd grew its holdings in shares of Globus Maritime by 64.6% in 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 period. Jane Street Group LLC purchased a new position in Globus Maritime during the fourth quarter worth about $58,000. Finally, Renaissance Technologies LLC purchased a new position in Globus Maritime during the fourth quarter worth about $127,000. Institutional investors and hedge funds own 31.60% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d+)” rating on shares of Globus Maritime in a research note on Monday, May 4th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $3.00.

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.