Globus Maritime (NASDAQ:GLBS) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

Globus Maritime Limited (NASDAQ:GLBS)’s stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $2.38 and traded as high as $3.89. Globus Maritime shares last traded at $3.85, with a volume of 155,736 shares changing hands.

Analysts Set New Price Targets

GLBS has been the topic of a number of recent analyst reports. Maxim Group raised their price target on shares of Globus Maritime from $3.00 to $5.00 and gave the stock a “buy” rating in a report on Monday, June 15th. Wall Street Zen raised shares of Globus Maritime to a “strong-buy” rating in a research note on Saturday, July 18th. Finally, Weiss Ratings upgraded 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 assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $5.00.

Globus Maritime Trading Down 2.1%

The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.68 and a current ratio of 2.77. The stock’s 50-day simple moving average is $3.12 and its 200-day simple moving average is $2.40. The firm has a market capitalization of $80.92 million, a PE ratio of 11.36 and a beta of 0.29.

Globus Maritime (NASDAQ:GLBS) last posted its earnings results on Friday, August 7th. The shipping company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.10 by $0.09. Globus Maritime had a net margin of 12.72% and a return on equity of 3.80%. The firm had revenue of $14.61 million during the quarter, compared to analysts’ expectations of $13.90 million.

Insiders Place Their Bets

In other news, Director Georgios Feidakis bought 114,766 shares of Globus Maritime stock in a transaction on Monday, July 13th. The shares were purchased at an average price of $2.75 per share, for a total transaction of $315,606.50. Following the acquisition, the director owned 6,578,633 shares of the company’s stock, valued at approximately $18,091,240.75. The trade was a 1.78% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 59.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. AXQ Capital LP purchased a new stake in Globus Maritime in the second quarter worth $39,000. NewEdge Advisors LLC purchased a new position in Globus Maritime during the first quarter valued at $37,000. XTX Topco Ltd boosted its holdings in shares of Globus Maritime by 64.6% during the 4th quarter. XTX Topco Ltd now owns 21,209 shares of the shipping company’s stock valued at $37,000 after buying an additional 8,327 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of Globus Maritime during the 4th quarter valued at $58,000. Finally, Renaissance Technologies LLC purchased a new stake in shares of Globus Maritime in the 4th quarter worth about $127,000. Hedge funds and other 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.