Globus Maritime (NASDAQ:GLBS) Share Price Crosses Above Two Hundred Day Moving Average – What’s Next?

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 $1.37 and traded as high as $2.10. Globus Maritime shares last traded at $1.95, with a volume of 70,234 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Globus Maritime in a research note on Thursday, January 22nd. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Globus Maritime currently has an average rating of “Hold” and a consensus price target of $3.00.

Globus Maritime Trading Down 5.8%

The company’s fifty day simple moving average is $1.70 and its two-hundred day simple moving average is $1.37. The company has a market capitalization of $40.13 million, a price-to-earnings ratio of -8.86 and a beta of 0.54. The company has a quick ratio of 2.22, a current ratio of 2.34 and a debt-to-equity ratio of 0.59.

Hedge Funds Weigh In On Globus Maritime

Several institutional investors have recently modified their holdings of the business. XTX Topco Ltd grew its position in shares of Globus Maritime by 64.6% in the 4th quarter. XTX Topco Ltd now owns 21,209 shares of the shipping company’s stock valued at $37,000 after purchasing an additional 8,327 shares during the period. Jane Street Group LLC bought a new position in Globus Maritime in the fourth quarter valued at approximately $58,000. Finally, Renaissance Technologies LLC acquired a new position in shares of Globus Maritime in the fourth quarter valued at approximately $127,000. 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.