Globus Maritime (NASDAQ:GLBS) Share Price Passes Above 200-Day Moving Average - Should You Sell?

Key Points

• Globus Maritime shares climbed above their 200-day moving average, reaching $3.89 and last trading near $3.85, compared with a 200-day average of $2.38.
• Analyst sentiment is broadly positive: the consensus rating is “Moderate Buy”, with a $5.00 target price after Maxim Group raised its target and issued a buy rating.
• The company beat quarterly expectations, reporting $0.19 in EPS versus the $0.10 consensus and revenue of $14.61 million; insiders own 59.2% of shares, while institutional investors own 31.6%.

Shares of Globus Maritime Limited (NASDAQ:GLBS - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $2.38 and traded as high as $3.89. Globus Maritime shares last traded at $3.85, with a volume of 155,736 shares.

Analysts Set New Price Targets

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

Globus Maritime Stock Performance

The stock's 50 day moving average price is $3.09 and its 200 day moving average price is $2.38. 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 firm has a market cap of $83.08 million, a PE ratio of 11.67 and a beta of 0.29.

Globus Maritime (NASDAQ:GLBS - Get Free Report) last announced its quarterly earnings results on Friday, August 7th. The shipping company reported $0.19 earnings per share for the quarter, topping 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 firm had revenue of $14.61 million during the quarter, compared to analysts' expectations of $13.90 million.

Insider Activity at Globus Maritime

In related news, Director Georgios Feidakis acquired 114,766 shares of Globus Maritime stock in a transaction on Monday, July 13th. The shares were bought at an average price of $2.75 per share, for a total transaction of $315,606.50. Following the completion of the purchase, the director directly owned 6,578,633 shares in the company, valued at $18,091,240.75. This trade represents a 1.78% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 59.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Globus Maritime

Several hedge funds have recently modified their holdings of the stock. AXQ Capital LP acquired a new position in Globus Maritime during the 2nd quarter worth approximately $39,000. NewEdge Advisors LLC purchased a new stake in shares of Globus Maritime during the first quarter valued at approximately $37,000. XTX Topco Ltd raised its stake in shares of Globus Maritime by 64.6% during the fourth quarter. XTX Topco Ltd now owns 21,209 shares of the shipping company's stock valued at $37,000 after purchasing an additional 8,327 shares during the period. Jane Street Group LLC acquired a new position in shares of Globus Maritime during the fourth quarter worth $58,000. Finally, Renaissance Technologies LLC acquired a new position in shares of Globus Maritime during the fourth quarter worth $127,000. 31.60% of the stock is currently owned by hedge funds and other institutional investors.

About Globus Maritime

Globus Maritime Ltd. is a dry bulk shipping company incorporated in the Republic of the Marshall Islands in 2007 and headquartered in Athens, Greece. The firm owns and operates a fleet of Capesize dry bulk carriers, each with a carrying capacity of approximately 170,000 to 180,000 deadweight tons (dwt). These vessels transport key commodities such as iron ore, coal and grains under time and voyage charter agreements.

After completing its initial public offering on the NASDAQ in 2014, Globus Maritime has pursued strategic fleet growth through acquisitions of modern secondhand vessels.

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