Globus Maritime (NASDAQ:GLBS) Share Price Breaks Above 200 Day Moving Average - Time to Sell?

Key Points

• Globus Maritime shares broke above their 200-day moving average, reaching $3.69 before closing at $3.33, compared with the 200-day average of $2.73.
• Analyst sentiment is generally positive: the consensus rating is “Moderate Buy” with an average price target of $5.00, including a Maxim Group upgrade to “Buy.”
• The company beat quarterly expectations, reporting $0.19 in EPS versus the $0.10 consensus and revenue of $14.61 million; an insider also bought 114,766 shares at $2.75 each.

Globus Maritime Limited (NASDAQ:GLBS - Get Free Report)'s share price passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $2.73 and traded as high as $3.69. Globus Maritime shares last traded at $3.33, with a volume of 215,746 shares changing hands.

Analyst Ratings Changes

Several brokerages have weighed in on GLBS. Maxim Group boosted their price objective on Globus Maritime from $3.00 to $5.00 and gave the stock a "buy" rating in a report on Monday, June 15th. Wall Street Zen raised shares of Globus Maritime to a "strong-buy" rating in a research note on Saturday, July 18th. Finally, Weiss Ratings upgraded shares of Globus Maritime from a "hold (c)" rating to a "hold (c+)" rating in a research report on Tuesday, August 11th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $5.00.

Globus Maritime Price Performance

The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.68 and a current ratio of 2.77. The firm has a market capitalization of $71.86 million, a P/E ratio of 10.09 and a beta of 0.31. The company has a 50-day moving average price of $3.50 and a 200-day moving average price of $2.73.

Globus Maritime (NASDAQ:GLBS - Get Free Report) last released its quarterly earnings data on Friday, August 7th. The shipping company reported $0.19 EPS for the quarter, beating analysts' consensus estimates of $0.10 by $0.09. Globus Maritime had a return on equity of 3.80% and a net margin of 12.72%.The business had revenue of $14.61 million during the quarter, compared to the consensus estimate of $13.90 million.

Insider Activity

In related news, Director Georgios Feidakis purchased 114,766 shares of the stock in a transaction dated Monday, July 13th. The stock was bought at an average cost of $2.75 per share, with a total value of $315,606.50. Following the purchase, the director directly owned 6,578,633 shares in the company, valued at $18,091,240.75. The trade was a 1.78% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Insiders own 59.20% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of GLBS. AXQ Capital LP acquired a new position in Globus Maritime during the second quarter valued at approximately $39,000. NewEdge Advisors LLC bought a new stake in Globus Maritime in the first quarter valued at approximately $37,000. Finally, Renaissance Technologies LLC raised its holdings in Globus Maritime by 96.8% in the first quarter. Renaissance Technologies LLC now owns 143,100 shares of the shipping company's stock worth $331,000 after purchasing an additional 70,400 shares during the period. Institutional investors own 31.60% of the company's stock.

About Globus Maritime

Globus Maritime Limited NASDAQ: GLBS is a dry bulk shipping company that owns and operates oceangoing vessels. The company transports bulk commodities for industrial and agricultural customers, including iron ore, coal, grain, steel products and other raw materials.

Globus Maritime's vessels serve international trade routes, connecting major ports and commodity-producing regions with markets around the world. The company generates revenue primarily through time-charter and voyage-charter arrangements, under which vessels are hired to transport cargo for specified periods or individual voyages.

The company is incorporated in the Marshall Islands and has historically operated from Athens, Greece, a major global shipping center.

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