Maxim Group Issues Positive Forecast for Globus Maritime (NASDAQ:GLBS) Stock Price

Globus Maritime (NASDAQ:GLBS) had its price objective lifted by Maxim Group from $3.00 to $5.00 in a research note issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the shipping company’s stock. Maxim Group’s target price points to a potential upside of 90.48% from the company’s current price.

Separately, Weiss Ratings reissued a “sell (d+)” rating on shares of Globus Maritime in a report on Monday, May 4th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $5.00.

Globus Maritime Stock Performance

Shares of NASDAQ GLBS opened at $2.63 on Monday. Globus Maritime has a 12-month low of $1.00 and a 12-month high of $2.70. The company has a market cap of $56.65 million, a PE ratio of 51.89 and a beta of 0.33. The stock has a 50 day simple moving average of $2.10 and a 200-day simple moving average of $1.86. The company has a current ratio of 2.65, a quick ratio of 2.45 and a debt-to-equity ratio of 0.56.

Globus Maritime (NASDAQ:GLBS) last posted its earnings results on Wednesday, June 10th. The shipping company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.05) by $0.10. Globus Maritime had a return on equity of 0.47% and a net margin of 1.72%.The firm had revenue of $12.25 million for the quarter, compared to analysts’ expectations of $10.40 million.

Insider Activity at Globus Maritime

In other news, Director Georgios Feidakis bought 38,947 shares of the company’s stock in a transaction that occurred on Tuesday, March 24th. The shares were purchased at an average price of $1.79 per share, with a total value of $69,715.13. Following the completion of the acquisition, the director directly owned 5,955,827 shares in the company, valued at approximately $10,660,930.33. This trade represents a 0.66% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have purchased a total of 80,032 shares of company stock worth $141,388 in the last quarter. 59.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Globus Maritime

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. NewEdge Advisors LLC bought a new stake in shares of Globus Maritime in the 1st quarter worth $37,000. XTX Topco Ltd raised its position in 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 acquiring an additional 8,327 shares in the last quarter. Jane Street Group LLC bought a new stake in Globus Maritime in the fourth quarter worth about $58,000. Finally, Renaissance Technologies LLC acquired a new stake in Globus Maritime in the 4th quarter valued at about $127,000. 31.60% of the stock is owned by institutional investors.

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.