Globus Maritime (NASDAQ:GLBS) Stock Crosses Above Two Hundred Day Moving Average – Here’s Why

Globus Maritime Limited (NASDAQ:GLBS)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.46 and traded as high as $1.72. Globus Maritime shares last traded at $1.69, with a volume of 95,995 shares changing hands.

Analysts Set New Price Targets

Separately, Weiss Ratings restated 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 company. According to MarketBeat, Globus Maritime presently has a consensus rating of “Hold” and an average price target of $3.00.

Globus Maritime Price Performance

The company has a market cap of $34.78 million, a P/E ratio of -7.68 and a beta of 0.48. The stock has a 50-day simple moving average of $1.76 and a 200 day simple moving average of $1.46. The company has a debt-to-equity ratio of 0.59, a quick ratio of 2.22 and a current ratio of 2.34.

Hedge Funds Weigh In On Globus Maritime

A number of hedge funds and other institutional investors have recently made changes to their positions in GLBS. Renaissance Technologies LLC bought a new position in shares of Globus Maritime during the 4th quarter worth about $127,000. Jane Street Group LLC bought a new stake in Globus Maritime in the fourth quarter valued at about $58,000. Finally, XTX Topco Ltd increased its stake in 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 during the period. 31.60% of the stock is owned by 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.