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

Globus Maritime Limited (NASDAQ:GLBS)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.92 and traded as high as $3.09. Globus Maritime shares last traded at $3.05, with a volume of 673,571 shares changing hands.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Maxim Group boosted their target price on Globus Maritime from $3.00 to $5.00 and gave the stock a “buy” rating in a research report on Monday, June 15th. Weiss Ratings raised shares of Globus Maritime from a “sell (d+)” rating to a “hold (c)” rating in a report on Friday, June 12th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Globus Maritime currently has a consensus rating of “Moderate Buy” and an average price target of $5.00.

Globus Maritime Stock Performance

The business’s 50 day simple moving average is $2.17 and its two-hundred day simple moving average is $1.92. The firm has a market capitalization of $65.82 million, a PE ratio of 61.01 and a beta of 0.33. The company has a current ratio of 2.65, a quick ratio of 2.45 and a debt-to-equity ratio of 0.56.

Globus Maritime (NASDAQ:GLBS) last released its quarterly earnings results on Thursday, June 11th. The shipping company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.10. Globus Maritime had a return on equity of 0.47% and a net margin of 1.72%.The firm had revenue of $12.25 million for the quarter, compared to the consensus estimate of $10.40 million.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. NewEdge Advisors LLC bought a new stake in shares of Globus Maritime during the 1st quarter valued at about $37,000. Renaissance Technologies LLC increased its position in shares of Globus Maritime by 96.8% during the 1st quarter. Renaissance Technologies LLC now owns 143,100 shares of the shipping company’s stock valued at $331,000 after purchasing an additional 70,400 shares during the last quarter. XTX Topco Ltd grew its position in Globus Maritime by 64.6% during the fourth 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. Finally, Jane Street Group LLC bought a new stake in Globus Maritime during the fourth quarter valued at approximately $58,000. 31.60% of the stock is 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.