Globus Maritime (NASDAQ:GLBS) Stock Crosses Above 200 Day Moving Average - What's Next?

Key Points

• Globus Maritime shares moved above their 200-day moving average, reaching $3.29 and last trading at $3.10, compared with a 200-day average of $2.19.
• Analyst sentiment has improved: Maxim Group raised its price target to $5.00 with a Buy rating, while the consensus view is “Moderate Buy” with a $5.00 target.
• The company exceeded quarterly expectations, reporting $0.05 in earnings per share versus a projected loss of $0.05 and revenue of $12.25 million versus an expected $10.40 million. Director Georgios Feidakis also increased his holdings by purchasing 114,766 shares.

Globus Maritime Limited (NASDAQ:GLBS - Get Free Report)'s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.19 and traded as high as $3.29. Globus Maritime shares last traded at $3.10, with a volume of 113,577 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. 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. Wall Street Zen raised Globus Maritime to a "strong-buy" rating in a report on Saturday, July 18th. 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 issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $5.00.

Globus Maritime Stock Down 3.7%

The company's fifty day moving average is $2.71 and its 200-day moving average is $2.19. The company has a market capitalization of $66.90 million, a PE ratio of 62.01 and a beta of 0.29. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.45 and a current ratio of 2.65.

Globus Maritime (NASDAQ:GLBS - Get Free Report) last released its earnings results on Thursday, June 11th. The shipping company reported $0.05 EPS for the quarter, topping analysts' consensus estimates of ($0.05) by $0.10. The company had revenue of $12.25 million for 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 Activity at Globus Maritime

In other news, Director Georgios Feidakis bought 114,766 shares of the stock in a transaction that occurred on Monday, July 13th. The shares were bought at an average price of $2.75 per share, for a total transaction of $315,606.50. Following the purchase, the director owned 6,578,633 shares in the company, valued at $18,091,240.75. This represents a 1.78% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 59.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC purchased a new stake in Globus Maritime in the 4th quarter worth $127,000. Jane Street Group LLC purchased a new position in shares of Globus Maritime in the fourth quarter valued at about $58,000. NewEdge Advisors LLC purchased a new position in shares of Globus Maritime in the first quarter valued at about $37,000. Finally, XTX Topco Ltd boosted 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 acquiring an additional 8,327 shares during the period. 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.

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