Globus Maritime (NASDAQ:GLBS) Issues Earnings Results

Key Points

• Globus Maritime reported quarterly EPS of $0.19, with a 1.72% net margin and 0.47% return on equity.
• GLBS shares rose to $3.19, near their 12-month high of $3.29; analysts’ consensus rating was “Moderate Buy” with a $5.00 price target.
• Director Georgios Feidakis purchased 114,766 shares for approximately $315,607, while insiders own 59.2% of the company and institutional investors hold 31.6%.

Globus Maritime (NASDAQ:GLBS - Get Free Report) issued its quarterly earnings results on Friday. The shipping company reported $0.19 earnings per share for the quarter, Zacks reports. Globus Maritime had a return on equity of 0.47% and a net margin of 1.72%.

Globus Maritime Price Performance

NASDAQ:GLBS traded up $0.02 on Friday, reaching $3.19. 132,582 shares of the company's stock traded hands, compared to its average volume of 108,811. 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 $2.75 and a 200-day simple moving average of $2.21. The firm has a market cap of $68.84 million, a PE ratio of 63.81 and a beta of 0.29. Globus Maritime has a 12 month low of $1.00 and a 12 month high of $3.29.

Insider Buying and Selling at Globus Maritime

In other Globus Maritime news, Director Georgios Feidakis purchased 114,766 shares of the stock in a transaction that occurred on Monday, July 13th. The shares were bought at an average cost 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 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 Securities & Exchange Commission, which is available through this link. 59.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Globus Maritime

Several institutional investors and hedge funds have recently modified their holdings of GLBS. Renaissance Technologies LLC purchased a new stake in Globus Maritime in the 4th quarter worth $127,000. Jane Street Group LLC bought a new position in shares of Globus Maritime during the 4th quarter valued at about $58,000. Finally, XTX Topco Ltd boosted its holdings 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 valued at $37,000 after purchasing an additional 8,327 shares during the last quarter. Institutional investors own 31.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Weiss Ratings raised Globus Maritime from a "sell (d+)" rating to a "hold (c)" rating in a research report on Friday, June 12th. Maxim Group boosted 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. Finally, Wall Street Zen raised Globus Maritime to a "strong-buy" rating in a research report on Saturday, July 18th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $5.00.

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.

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