Globus Maritime (NASDAQ:GLBS) Share Price Crosses Above 200-Day Moving Average – What’s Next?

Globus Maritime Limited (NASDAQ:GLBS) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $2.14 and traded as high as $3.02. Globus Maritime shares last traded at $2.92, with a volume of 130,867 shares traded.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Weiss Ratings raised shares of Globus Maritime from a “sell (d+)” rating to a “hold (c)” rating in a research note on Friday, June 12th. Wall Street Zen raised shares of Globus Maritime to a “strong-buy” rating in a report on Saturday, July 18th. Finally, Maxim Group raised their price objective on shares of Globus Maritime from $3.00 to $5.00 and gave the company a “buy” rating in a research report on Monday, June 15th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $5.00.

Globus Maritime Stock Down 3.0%

The company has a quick ratio of 2.45, a current ratio of 2.65 and a debt-to-equity ratio of 0.56. The stock has a 50-day simple moving average of $2.60 and a two-hundred day simple moving average of $2.14. The firm has a market cap of $63.01 million, a PE ratio of 58.41 and a beta of 0.26.

Globus Maritime (NASDAQ:GLBS) last released its quarterly earnings data on Thursday, June 11th. The shipping company reported $0.05 EPS for the quarter, topping the consensus estimate 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.

Insider Transactions at Globus Maritime

In related news, Director Georgios Feidakis purchased 114,766 shares of the firm’s stock in a transaction on Monday, July 13th. The shares were acquired at an average cost of $2.75 per share, with a total value of $315,606.50. Following the purchase, the director directly owned 6,578,633 shares of the company’s stock, valued at approximately $18,091,240.75. This trade represents a 1.78% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 59.20% of the stock is currently owned by insiders.

Institutional Trading of Globus Maritime

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC purchased a new stake in shares of Globus Maritime during the fourth quarter valued at approximately $127,000. Jane Street Group LLC bought a new position in shares of Globus Maritime in the fourth quarter worth approximately $58,000. XTX Topco Ltd increased its stake in shares of Globus Maritime by 64.6% in the fourth quarter. XTX Topco Ltd now owns 21,209 shares of the shipping company’s stock worth $37,000 after buying an additional 8,327 shares during the period. Finally, NewEdge Advisors LLC purchased a new position in shares of Globus Maritime in the first quarter worth $37,000. 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.