Globus Maritime (NASDAQ:GLBS) Stock Passes Above 200 Day Moving Average – Time to Sell?

Shares of Globus Maritime Limited (NASDAQ:GLBS) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.42 and traded as high as $2.0750. Globus Maritime shares last traded at $1.99, with a volume of 44,802 shares.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed 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 given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $3.00.

Globus Maritime Stock Performance

The company has a 50 day moving average of $1.75 and a two-hundred day moving average of $1.42. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.34 and a quick ratio of 2.22. The company has a market capitalization of $40.95 million, a PE ratio of -9.05 and a beta of 0.48.

Institutional Trading of Globus Maritime

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC bought a new position in Globus Maritime during the fourth quarter valued at approximately $127,000. Jane Street Group LLC purchased a new stake in Globus Maritime during the 4th quarter valued at $58,000. Finally, XTX Topco Ltd lifted its holdings in shares of 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 during the period. Hedge funds and other 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.