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

Key Points

• Gulf Marine Services PLC's share price fell 7.7% to GBX 16.80 ($0.23), trading volume surged to approximately 22.2 million shares, an increase of 732% compared to the average daily volume.
• The company has a market cap of £193.56 million, a very high price-to-earnings ratio of 495.58, and financial ratios indicating potential liquidity challenges with a current ratio of 0.16.
• Founded in 1977, Gulf Marine Services is a leading provider of self-elevating support vessels for the oil, gas, and renewable energy sectors, operating a fleet with an average age of eight years.

Gulf Marine Services PLC (LON:GMS - Get Free Report) shares were down 7.7% on Tuesday . The stock traded as low as GBX 16.20 ($0.22) and last traded at GBX 16.80 ($0.23). Approximately 22,218,996 shares traded hands during mid-day 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 Price Performance

The stock has a market cap of £191.03 million, a P/E ratio of 489.09 and a beta of 1.90. The company has a quick ratio of 0.80, a current ratio of 0.16 and a debt-to-equity ratio of 72.38. The business's 50-day simple moving average is GBX 19.37 and its two-hundred day simple moving average is GBX 18.68.

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.