Globus Maritime (NASDAQ:GLBS) Stock Crosses Above 200 Day Moving Average - Time to Sell?

Key Points

• Globus Maritime shares moved above their 200-day moving average, reaching $3.02 and last trading at $2.92, compared with the average of $2.14.
• Analyst sentiment is generally positive: the stock has a consensus “Moderate Buy” rating and a $5.00 target price, while recent reports included a “strong-buy” upgrade and a higher price target from Maxim Group.
• The company beat quarterly expectations, reporting $0.05 EPS versus an expected loss of $0.05 and revenue of $12.25 million versus the $10.40 million consensus. Director Georgios Feidakis also purchased 114,766 shares, and insiders own 59.2% of the stock.

Globus Maritime Limited (NASDAQ:GLBS - Get Free Report)'s share price passed 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 changing hands.

Wall Street Analysts Forecast Growth

GLBS has been the topic of several recent research reports. Wall Street Zen upgraded Globus Maritime to a "strong-buy" rating in a research report on Saturday, July 18th. Maxim Group raised their price target on Globus Maritime from $3.00 to $5.00 and gave the stock a "buy" rating in a report on Monday, June 15th. Finally, Weiss Ratings upgraded Globus Maritime from a "sell (d+)" rating to a "hold (c)" rating in a research report on Friday, June 12th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, Globus Maritime has a consensus rating of "Moderate Buy" and a consensus target price of $5.00.

Globus Maritime Stock Performance

The stock has a market capitalization of $63.01 million, a PE ratio of 58.41 and a beta of 0.26. 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 business's fifty day moving average price is $2.60 and its 200-day moving average price is $2.14.

Globus Maritime (NASDAQ:GLBS - Get Free Report) last issued its quarterly earnings data on Thursday, June 11th. The shipping company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.05) by $0.10. The company had revenue of $12.25 million during the quarter, compared to analysts' expectations of $10.40 million. Globus Maritime had a net margin of 1.72% and a return on equity of 0.47%.

Insider Buying and Selling

In other news, Director Georgios Feidakis purchased 114,766 shares of Globus Maritime stock in a transaction dated Monday, July 13th. The stock was purchased at an average cost of $2.75 per share, for a total transaction of $315,606.50. Following the transaction, 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 through this hyperlink. 59.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in GLBS. NewEdge Advisors LLC purchased a new stake in shares of Globus Maritime in the first quarter worth $37,000. 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 worth $37,000 after buying an additional 8,327 shares in the last quarter. Jane Street Group LLC purchased a new position in Globus Maritime during the fourth quarter worth about $58,000. Finally, Renaissance Technologies LLC bought a new position in Globus Maritime in the 4th quarter worth about $127,000. Institutional investors own 31.60% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.