Globus Maritime (NASDAQ:GLBS) Stock Price Breaks Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Globus Maritime Limited (NASDAQ:GLBS) passed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $2.65 and traded as high as $3.98. Globus Maritime shares last traded at $3.69, with a volume of 141,881 shares.

Wall Street Analyst Weigh In

A number of research firms have issued reports on GLBS. Maxim Group increased their price target on 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 upgraded shares of Globus Maritime to a “strong-buy” rating in a research report on Saturday, July 18th. Finally, Weiss Ratings raised shares of Globus Maritime from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, August 11th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $5.00.

Globus Maritime Trading Down 2.5%

The business has a 50 day moving average of $3.44 and a two-hundred day moving average of $2.66. The firm has a market capitalization of $75.11 million, a price-to-earnings ratio of 10.55 and a beta of 0.31. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.68 and a current ratio of 2.77.

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

Insider Buying and Selling at Globus Maritime

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

Hedge Funds Weigh In On Globus Maritime

Hedge funds and other institutional investors have recently modified their holdings of the business. NewEdge Advisors LLC grew its position in Globus Maritime by 189.4% during the second quarter. NewEdge Advisors LLC now owns 46,939 shares of the shipping company’s stock valued at $140,000 after buying an additional 30,717 shares during the period. AXQ Capital LP purchased a new stake in shares of Globus Maritime during the 2nd quarter worth approximately $39,000. Finally, Renaissance Technologies LLC raised its holdings in shares of Globus Maritime by 96.8% in the 1st 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. Hedge funds and other institutional investors own 31.60% of the company’s stock.

About Globus Maritime

Globus Maritime Limited (NASDAQ: GLBS) is a dry bulk shipping company that owns and operates oceangoing vessels. The company transports bulk commodities for industrial and agricultural customers, including iron ore, coal, grain, steel products and other raw materials.

Globus Maritime’s vessels serve international trade routes, connecting major ports and commodity-producing regions with markets around the world. The company generates revenue primarily through time-charter and voyage-charter arrangements, under which vessels are hired to transport cargo for specified periods or individual voyages.

The company is incorporated in the Marshall Islands and has historically operated from Athens, Greece, a major global shipping center.