Globus Maritime (NASDAQ:GLBS) Share Price Crosses Above Two Hundred Day Moving Average - What's Next?

Key Points

• Globus Maritime shares rose above their 200-day moving average, reaching $3.56 and last trading at $3.50 versus the $2.80 average.
• Analyst sentiment improved, with Maxim Group raising its price target to $5.00 and assigning a Buy rating; the overall consensus is Moderate Buy with a $5.00 target.
• The company exceeded quarterly expectations, reporting $0.19 in EPS and $14.61 million in revenue, while director Georgios Feidakis purchased 114,766 shares at an average price of $2.75.

Shares of Globus Maritime Limited (NASDAQ:GLBS - Get Free Report) crossed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $2.80 and traded as high as $3.56. Globus Maritime shares last traded at $3.50, with a volume of 74,161 shares.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Weiss Ratings raised shares of Globus Maritime from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday, August 11th. Wall Street Zen upgraded Globus Maritime to a "strong-buy" rating in a report on Saturday, July 18th. Finally, 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. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, Globus Maritime currently has a consensus rating of "Moderate Buy" and a consensus target price of $5.00.

Globus Maritime Stock Up 3.6%

The company has a current ratio of 2.77, a quick ratio of 2.68 and a debt-to-equity ratio of 0.54. The stock has a market cap of $75.53 million, a P/E ratio of 10.61 and a beta of 0.29. The firm has a 50-day simple moving average of $3.56 and a two-hundred day simple moving average of $2.80.

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

Insiders Place Their Bets

In other Globus Maritime news, Director Georgios Feidakis acquired 114,766 shares of the company's stock in a transaction on Monday, July 13th. The stock was acquired at an average price of $2.75 per share, for a total transaction of $315,606.50. Following the purchase, the director directly owned 6,578,633 shares of the company's stock, valued at $18,091,240.75. This trade represents a 1.78% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 59.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in GLBS. NewEdge Advisors LLC increased its holdings in shares of Globus Maritime by 189.4% during the second quarter. NewEdge Advisors LLC now owns 46,939 shares of the shipping company's stock worth $140,000 after purchasing an additional 30,717 shares during the period. AXQ Capital LP acquired a new stake in shares of Globus Maritime in the second quarter valued at approximately $39,000. Finally, Renaissance Technologies LLC boosted its stake in shares of Globus Maritime by 96.8% in the first quarter. Renaissance Technologies LLC now owns 143,100 shares of the shipping company's stock valued at $331,000 after buying an additional 70,400 shares during the period. Institutional investors and hedge funds own 31.60% of the company's stock.

Globus Maritime Company Profile

Globus Maritime Limited NASDAQ: GLBS is an international dry bulk shipping company headquartered in Athens, Greece. The company owns and operates oceangoing dry bulk vessels that transport major and minor bulk commodities for customers around the world.

Its vessels carry cargoes such as iron ore, grain, steel products, fertilizers, cement and other dry bulk materials. Globus Maritime's activities include vessel ownership, chartering and the commercial and technical management of its fleet, with employment arrangements varying according to market conditions and customer requirements.

Founded in 2006, Globus Maritime serves international trade routes connecting major commodity-producing and consuming regions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.