Globus Maritime (NASDAQ:GLBS) Releases Quarterly Earnings Results

Globus Maritime (NASDAQ:GLBS) posted its quarterly earnings results on Monday. The shipping company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.14, Zacks reports. Globus Maritime had a negative return on equity of 2.65% and a negative net margin of 11.72%.The company had revenue of $13.45 million for the quarter, compared to analysts’ expectations of $11.60 million.

Globus Maritime Trading Up 1.2%

NASDAQ:GLBS opened at $1.69 on Tuesday. The company has a market cap of $34.78 million, a P/E ratio of -7.68 and a beta of 0.48. Globus Maritime has a twelve month low of $0.99 and a twelve month high of $2.23. The business has a 50 day moving average price of $1.76 and a two-hundred day moving average price of $1.46. The company has a quick ratio of 2.22, a current ratio of 2.34 and a debt-to-equity ratio of 0.59.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. XTX Topco Ltd grew its position in Globus Maritime by 64.6% in 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 in the last quarter. Jane Street Group LLC bought a new stake in Globus Maritime during the 4th quarter worth about $58,000. Finally, Renaissance Technologies LLC bought a new stake in Globus Maritime during the 4th quarter worth about $127,000. Institutional investors and hedge funds own 31.60% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Globus Maritime in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $3.00.

Globus Maritime Company Profile

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.