Globus Maritime (NASDAQ:GLBS) Upgraded to Strong-Buy at Wall Street Zen

Key Points

• Globus Maritime was upgraded to a strong-buy by Wall Street Zen, while other recent analyst actions included Maxim Group raising its price target to $5.00 and maintaining a buy rating.
• The stock has been trading higher, opening at $2.77 and rising 1.5%; the company now has a market cap of about $59.8 million and a consensus analyst price target of $5.00.
• Recent fundamentals and insider activity were positive: Globus Maritime beat quarterly EPS and revenue estimates, and director Georgios Feidakis bought 114,766 shares in a transaction worth about $315,606.

Globus Maritime (NASDAQ:GLBS - Get Free Report) was upgraded by stock analysts at Wall Street Zen to a "strong-buy" rating in a research note issued on Saturday.

Several other analysts also recently weighed in on GLBS. Maxim Group boosted their price target on Globus Maritime from $3.00 to $5.00 and gave the company a "buy" rating in a research note on Monday, June 15th. Weiss Ratings upgraded Globus Maritime from a "sell (d+)" rating to a "hold (c)" rating in a research note 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's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $5.00.

Globus Maritime Trading Up 1.5%

NASDAQ:GLBS opened at $2.77 on Friday. Globus Maritime has a 12 month low of $1.00 and a 12 month high of $3.24. The firm has a fifty day simple moving average of $2.48 and a 200-day simple moving average of $2.08. The company has a current ratio of 2.65, a quick ratio of 2.45 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $59.78 million, a P/E ratio of 55.41 and a beta of 0.26.

Globus Maritime (NASDAQ:GLBS - Get Free Report) last announced its quarterly earnings data on Thursday, June 11th. The shipping company reported $0.05 earnings per share for the quarter, beating analysts' consensus estimates of ($0.05) by $0.10. The firm had revenue of $12.25 million for the quarter, compared to analyst estimates 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 Globus Maritime news, Director Georgios Feidakis acquired 114,766 shares of the business's stock in a transaction dated Monday, July 13th. The shares were purchased at an average price of $2.75 per share, for a total transaction of $315,606.50. Following the completion of the purchase, the director directly owned 6,578,633 shares of the company's stock, valued at $18,091,240.75. The trade was a 1.78% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 59.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GLBS. XTX Topco Ltd boosted its holdings in Globus Maritime by 64.6% in the fourth 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. Jane Street Group LLC purchased a new position in shares of Globus Maritime during the 4th quarter valued at about $58,000. Renaissance Technologies LLC purchased a new position in shares of Globus Maritime during the 4th quarter valued at about $127,000. Finally, NewEdge Advisors LLC purchased a new position in shares of Globus Maritime during the 1st quarter valued at about $37,000. 31.60% of the stock is currently owned by institutional investors and hedge funds.

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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