Gulf Marine Services (LON:GMS) Shares Down 7.7% - What's Next?

Key Points

• Gulf Marine Services PLC shares fell by 7.7% on Wednesday, trading as low as GBX 16.20 ($0.22) before closing at GBX 16.80 ($0.23).
• The company experienced a significant increase in trading volume, with over 22 million shares changing hands, a 732% rise from its average volume.
• With a market cap of £198.17 million, Gulf Marine Services has a high debt-to-equity ratio of 72.38 and a price-to-earnings ratio of 507.37.

Gulf Marine Services PLC (LON:GMS - Get Free Report) dropped 7.7% during mid-day trading on Wednesday . The company traded as low as GBX 16.20 ($0.22) and last traded at GBX 16.80 ($0.23). Approximately 22,218,996 shares changed hands during trading, an increase of 732% from the average daily volume of 2,669,004 shares. The stock had previously closed at GBX 18.20 ($0.25).

Gulf Marine Services Trading Up 2.7%

The business has a 50 day moving average of GBX 19.25 and a 200-day moving average of GBX 18.66. The company has a current ratio of 0.16, a quick ratio of 0.80 and a debt-to-equity ratio of 72.38. The firm has a market capitalization of £198.40 million, a P/E ratio of 507.96 and a beta of 1.90.

About Gulf Marine Services

Gulf Marine Services PLC was founded in Abu Dhabi in 1977 and has become a world leading provider of advanced self-propelled self-elevating support vessels (SESVs). The fleet serves the oil, gas and renewable energy industries from its offices in the United Arab Emirates, Saudi Arabia and Qatar. The Group's assets are capable of serving clients' requirements across the globe, including those in the Middle East, South East Asia, West Africa, North America, the Gulf of Mexico and Europe. The GMS fleet of 13 SESVs is amongst the youngest in the industry, with an average age of eight years.