Globus Maritime (NASDAQ:GLBS) Stock Price Passes Above Two Hundred Day Moving Average – Here’s Why

Globus Maritime Limited (NASDAQ:GLBS)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $2.51 and traded as high as $3.76. Globus Maritime shares last traded at $3.69, with a volume of 129,132 shares trading hands.

Analyst Ratings Changes

Several research analysts have commented on GLBS shares. Wall Street Zen raised Globus Maritime to a “strong-buy” rating in a research note on Saturday, July 18th. Maxim Group raised their price target on shares of Globus Maritime from $3.00 to $5.00 and gave the company a “buy” rating in a research note on Monday, June 15th. Finally, Weiss Ratings raised shares of Globus Maritime from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, August 11th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $5.00.

Globus Maritime Stock Down 1.9%

The company has a market capitalization of $79.63 million, a P/E ratio of 11.18 and a beta of 0.31. The company has a current ratio of 2.77, a quick ratio of 2.68 and a debt-to-equity ratio of 0.54. The stock has a 50 day moving average price of $3.24 and a 200 day moving average price of $2.51.

Globus Maritime (NASDAQ:GLBS) last issued its quarterly earnings data on Friday, August 7th. The shipping company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.09. Globus Maritime had a return on equity of 3.80% and a net margin of 12.72%.The business had revenue of $14.61 million for the quarter, compared to analyst estimates of $13.90 million.

Insider Activity at Globus Maritime

In other news, Director Georgios Feidakis purchased 114,766 shares of the business’s stock in a transaction dated Monday, July 13th. The shares were purchased at an average cost of $2.75 per share, with a total value of $315,606.50. Following the completion of the purchase, the director owned 6,578,633 shares of the company’s stock, valued at $18,091,240.75. This trade represents a 1.78% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Insiders own 59.20% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. AXQ Capital LP acquired a new stake in Globus Maritime during the 2nd quarter worth approximately $39,000. NewEdge Advisors LLC bought a new position in shares of Globus Maritime during the first quarter valued at $37,000. Renaissance Technologies LLC lifted its holdings in shares of Globus Maritime by 96.8% during the first quarter. Renaissance Technologies LLC now owns 143,100 shares of the shipping company’s stock worth $331,000 after purchasing an additional 70,400 shares during the period. XTX Topco Ltd grew its stake 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 worth $37,000 after purchasing an additional 8,327 shares during the last quarter. Finally, Jane Street Group LLC bought a new stake in shares of Globus Maritime in the fourth quarter worth $58,000. Institutional investors own 31.60% of the company’s stock.

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.