Globus Maritime Limited (NASDAQ:GLBS – Get Free Report)’s stock price shot up 2% during mid-day trading on Monday. The stock traded as high as $2.65 and last traded at $2.60. Approximately 207,845 shares changed hands during trading, an increase of 78% from the average session volume of 116,556 shares. The stock had previously closed at $2.55.
Wall Street Analyst Weigh In
Several brokerages have recently weighed in on GLBS. Wall Street Zen raised Globus Maritime to a “strong-buy” rating in a research report on Saturday, July 18th. Weiss Ratings raised Globus Maritime from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, August 11th. One research analyst has rated the stock with a Buy rating and one has assigned 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.
Get Our Latest Stock Analysis on GLBS
Globus Maritime Price Performance
The stock’s 50-day moving average is $3.32 and its 200 day moving average is $2.61. 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 has a market capitalization of $56.11 million, a PE ratio of 7.88 and a beta of 0.31.
Globus Maritime (NASDAQ:GLBS – Get Free Report) last announced its quarterly earnings results on Friday, August 7th. The shipping company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.09. The firm had revenue of $14.61 million during the quarter, compared to analysts’ expectations of $13.90 million. Globus Maritime had a net margin of 12.72% and a return on equity of 3.80%.
Institutional Trading of Globus Maritime
Several institutional investors and hedge funds have recently made changes to their positions in the company. AXQ Capital LP purchased a new position in Globus Maritime during the 2nd quarter worth approximately $39,000. NewEdge Advisors LLC purchased a new stake in Globus Maritime in the first quarter valued at approximately $37,000. Finally, Renaissance Technologies LLC lifted its stake in Globus Maritime by 96.8% in the first quarter. Renaissance Technologies LLC now owns 143,100 shares of the shipping company’s stock valued at $331,000 after buying an additional 70,400 shares during the last quarter. 31.60% of the stock is owned by hedge funds and other institutional investors.
Globus Maritime Company Profile
Globus Maritime Ltd. is a dry bulk shipping company that owns, operates and manages ocean-going vessels used to transport commodities in international trade. Its vessels carry bulk cargoes such as iron ore, coal, grain and other agricultural or industrial materials.
The company’s services are provided primarily through the chartering of its vessels to customers, including commodity producers, traders and other participants in the global supply chain. Dry bulk shipping routes can connect major exporting and importing regions across the Americas, Europe, Asia, Africa and Oceania, depending on customer demand and vessel deployment.
Globus Maritime is headquartered in Athens, Greece, and has historically focused on operating a fleet of oceangoing dry bulk carriers.
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