Globus Maritime (NASDAQ:GLBS) Upgraded at Wall Street Zen

Globus Maritime (NASDAQ:GLBS) was upgraded by equities researchers at Wall Street Zen to a “strong-buy” rating in a note issued to investors on Saturday.

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

Globus Maritime Price Performance

Shares of NASDAQ GLBS opened at $2.77 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.65 and a quick ratio of 2.45. The stock has a market capitalization of $59.78 million, a price-to-earnings ratio of 55.41 and a beta of 0.26. The firm’s 50 day simple moving average is $2.48 and its 200-day simple moving average is $2.08. Globus Maritime has a 12 month low of $1.00 and a 12 month high of $3.24.

Globus Maritime (NASDAQ:GLBS) last announced 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. The firm had revenue of $12.25 million for the quarter, compared to the consensus estimate of $10.40 million. Globus Maritime had a net margin of 1.72% and a return on equity of 0.47%.

Insider Transactions at Globus Maritime

In related news, Director Georgios Feidakis purchased 114,766 shares of the business’s stock in a transaction that occurred on Monday, July 13th. The stock was bought at an average price of $2.75 per share, with a total value of $315,606.50. Following the acquisition, the director owned 6,578,633 shares in the company, valued at $18,091,240.75. The trade was a 1.78% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 59.20% of the company’s stock.

Hedge Funds Weigh In On Globus Maritime

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GLBS. NewEdge Advisors LLC acquired a new stake in shares of Globus Maritime in the first quarter valued at about $37,000. XTX Topco Ltd raised its position 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 worth $37,000 after purchasing an additional 8,327 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of Globus Maritime during the 4th quarter worth about $58,000. Finally, Renaissance Technologies LLC purchased a new position in Globus Maritime in the 4th quarter valued at about $127,000. 31.60% of the stock is owned by hedge funds and other institutional investors.

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.