Globus Maritime (NASDAQ:GLBS) Shares Cross Above 200 Day Moving Average – Here’s Why

Globus Maritime Limited (NASDAQ:GLBS)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $1.63 and traded as high as $2.30. Globus Maritime shares last traded at $2.18, with a volume of 66,324 shares traded.

Analyst Ratings Changes

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

Globus Maritime Trading Up 4.3%

The firm has a market capitalization of $47.04 million, a PE ratio of -31.14 and a beta of 0.46. The company has a quick ratio of 2.54, a current ratio of 2.74 and a debt-to-equity ratio of 0.58. The company’s 50-day simple moving average is $1.96 and its 200 day simple moving average is $1.63.

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, topping analysts’ consensus estimates of ($0.09) by $0.14. Globus Maritime had a negative net margin of 3.95% and a negative return on equity of 1.00%. The firm had revenue of $13.45 million for the quarter, compared to the consensus estimate of $11.60 million.

Insider Transactions at Globus Maritime

In other Globus Maritime news, Director Georgios Feidakis purchased 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, with a total value of $69,715.13. Following the completion of the transaction, the director owned 5,955,827 shares in the company, valued at approximately $10,660,930.33. This trade represents a 0.66% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have acquired 80,032 shares of company stock valued at $141,388 over the last 90 days. 59.20% of the stock is currently owned by insiders.

Institutional Trading of Globus Maritime

A number of institutional investors have recently made changes to their positions in the business. XTX Topco Ltd increased its position in Globus Maritime by 64.6% during the 4th quarter. XTX Topco Ltd now owns 21,209 shares of the shipping company’s stock valued at $37,000 after buying an additional 8,327 shares in the last quarter. Jane Street Group LLC purchased a new stake in Globus Maritime in the fourth quarter valued at about $58,000. Finally, Renaissance Technologies LLC acquired a new stake in Globus Maritime in the fourth quarter worth about $127,000. Institutional investors and hedge funds 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.