Globus Maritime (NASDAQ:GLBS) Shares Cross Above Two Hundred Day Moving Average – Time to Sell?

Globus Maritime Limited (NASDAQ:GLBS) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $1.74 and traded as high as $2.11. Globus Maritime shares last traded at $1.93, with a volume of 110,328 shares changing hands.

Analysts Set New Price Targets

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

Globus Maritime Price Performance

The company has a debt-to-equity ratio of 0.58, a current ratio of 2.74 and a quick ratio of 2.54. The firm has a market cap of $41.65 million, a price-to-earnings ratio of -27.57 and a beta of 0.36. The business’s 50-day moving average price is $2.00 and its two-hundred day moving average price is $1.74.

Globus Maritime (NASDAQ:GLBS) last released its quarterly earnings results on Monday, March 16th. The shipping company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $13.45 million during the quarter, compared to the consensus estimate of $11.60 million.

Insider Buying and Selling at Globus Maritime

In related news, Director Georgios Feidakis purchased 38,947 shares of the firm’s stock in a transaction dated Tuesday, March 24th. The stock was acquired at an average price of $1.79 per share, with a total value of $69,715.13. Following the completion of the transaction, the director owned 5,955,827 shares of the company’s stock, valued at $10,660,930.33. This represents a 0.66% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have purchased a total of 80,032 shares of company stock worth $141,388 over the last three months. 59.20% of the stock is currently owned by company insiders.

Institutional Trading of Globus Maritime

Hedge funds have recently made changes to their positions in the stock. XTX Topco Ltd grew its position in shares of 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. Jane Street Group LLC acquired a new stake in shares of Globus Maritime during the fourth quarter worth approximately $58,000. Finally, Renaissance Technologies LLC acquired a new stake in shares of Globus Maritime during the fourth quarter worth approximately $127,000. Institutional investors and hedge funds 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.