Gulf Marine Services (LON:GMS) Stock Price Down 7.7% - Here's What Happened

Key Points

• Gulf Marine Services PLC saw its stock price decrease by 7.7% during mid-day trading, dropping to GBX 16.80 ($0.23) after closing at GBX 18.20 ($0.25).
• The company reported an unusually high trading volume, with 22.2 million shares exchanged, a 732% increase from its average volume.
• Gulf Marine Services operates a fleet of advance self-elevating support vessels, which is among the youngest in the industry, catering to the oil, gas, and renewable energy sectors.

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

Gulf Marine Services Stock Performance

The company has a market cap of £198.17 million, a P/E ratio of 507.37 and a beta of 1.90. The company has a 50 day moving average price of GBX 19.41 and a 200-day moving average price of GBX 18.69. The company has a quick ratio of 0.80, a current ratio of 0.16 and a debt-to-equity ratio of 72.38.

Gulf Marine Services Company Profile

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.

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