Globus Maritime (NASDAQ:GLBS) Stock Price Crosses 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 Tuesday . The stock has a two hundred 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 traded.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Globus Maritime in a 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 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 Down 5.8%

The firm’s 50 day simple moving average is $1.70 and its 200-day simple moving average is $1.37. The company has a current ratio of 2.34, a quick ratio of 2.22 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $40.13 million, a price-to-earnings ratio of -8.86 and a beta of 0.54.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of GLBS. XTX Topco Ltd grew 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 purchasing an additional 8,327 shares in the last quarter. Jane Street Group LLC bought a new position in shares of Globus Maritime in the fourth quarter valued at $58,000. Finally, Renaissance Technologies LLC acquired a new position in Globus Maritime during the fourth quarter worth $127,000. 31.60% of the stock is owned by institutional investors and hedge funds.

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.