Globus Maritime (NASDAQ:GLBS) Shares Break Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• GLBS shares moved above their 200-day moving average, reaching $3.25 before last trading at $3.10, compared with a 200-day average of $2.85.
• Analyst sentiment is moderately positive: Globus Maritime has a consensus rating of “Moderate Buy” and a $5.00 price target, based on one Buy and one Hold rating.
• The company exceeded quarterly expectations, reporting $0.19 in earnings per share versus a $0.10 consensus estimate and $14.61 million in revenue versus $13.90 million expected.

Globus Maritime Limited (NASDAQ:GLBS - Get Free Report)'s stock price passed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $2.85 and traded as high as $3.25. Globus Maritime shares last traded at $3.10, with a volume of 79,381 shares trading hands.

Analysts Set New Price Targets

A number of analysts have issued reports on GLBS shares. Weiss Ratings raised Globus Maritime from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday, August 11th. Wall Street Zen upgraded Globus Maritime to a "strong-buy" rating in a report on Saturday, July 18th. One equities research 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, the company presently has an average rating of "Moderate Buy" and a consensus price target of $5.00.

Globus Maritime Stock Down 3.1%

The company has a debt-to-equity ratio of 0.54, a current ratio of 2.77 and a quick ratio of 2.68. The company has a market capitalization of $66.90 million, a PE ratio of 9.39 and a beta of 0.29. The business's 50 day simple moving average is $3.58 and its 200 day simple moving average is $2.85.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in GLBS. NewEdge Advisors LLC purchased a new position in Globus Maritime in the first quarter worth approximately $37,000. AXQ Capital LP acquired a new stake in Globus Maritime during the second quarter worth $39,000. Finally, Renaissance Technologies LLC increased its stake in Globus Maritime by 96.8% during the first quarter. Renaissance Technologies LLC now owns 143,100 shares of the shipping company's stock worth $331,000 after acquiring an additional 70,400 shares during the last quarter. 31.60% of the stock is currently owned by institutional investors and hedge funds.

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.

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