Globus Maritime (NASDAQ:GLBS) Shares Pass Above 200-Day Moving Average – Should You Sell?

Globus Maritime Limited (NASDAQ:GLBS) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.59 and traded as high as $2.02. Globus Maritime shares last traded at $1.97, with a volume of 40,681 shares.

Analysts Set New Price Targets

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

Globus Maritime Price Performance

The company has a debt-to-equity ratio of 0.58, a current ratio of 2.74 and a quick ratio of 2.54. The company has a 50-day moving average price of $1.91 and a 200-day moving average price of $1.59. The firm has a market capitalization of $42.51 million, a PE ratio of -28.14 and a beta of 0.46.

Globus Maritime (NASDAQ:GLBS) last issued its quarterly earnings data on Monday, March 16th. The shipping company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.14. Globus Maritime had a negative return on equity of 1.00% and a negative net margin of 3.95%.The business had revenue of $13.45 million for the quarter, compared to the consensus estimate of $11.60 million.

Insider Activity

In related news, Director Georgios Feidakis acquired 38,947 shares of Globus Maritime stock in a transaction dated Tuesday, March 24th. The shares were acquired at an average cost of $1.79 per share, for a total transaction of $69,715.13. Following the completion of the transaction, the director directly owned 5,955,827 shares of the company’s stock, valued at $10,660,930.33. The trade was a 0.66% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders acquired 80,032 shares of company stock valued at $141,388 in the last quarter. 59.20% of the stock is owned by corporate insiders.

Institutional Trading of Globus Maritime

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC purchased a new stake in shares of Globus Maritime in the fourth quarter valued at $127,000. Jane Street Group LLC purchased a new stake in shares of Globus Maritime in the fourth quarter valued at $58,000. Finally, XTX Topco Ltd lifted its position in shares of Globus Maritime by 64.6% in the fourth quarter. XTX Topco Ltd now owns 21,209 shares of the shipping company’s stock valued at $37,000 after acquiring an additional 8,327 shares in the last quarter. 31.60% of the stock is currently owned by hedge funds and other 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.