Globus Maritime (NASDAQ:GLBS) Announces Quarterly Earnings Results

Globus Maritime (NASDAQ:GLBS) issued its quarterly earnings data on Wednesday. The shipping company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.10, FiscalAI reports. The firm had revenue of $12.25 million during the quarter, compared to the consensus estimate of $10.00 million. Globus Maritime had a negative net margin of 3.95% and a negative return on equity of 1.00%.

Globus Maritime Price Performance

Shares of NASDAQ GLBS traded down $0.02 during midday trading on Wednesday, reaching $2.14. The company’s stock had a trading volume of 363,886 shares, compared to its average volume of 72,657. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.54 and a current ratio of 2.74. Globus Maritime has a fifty-two week low of $1.00 and a fifty-two week high of $2.44. The business’s 50 day moving average price is $2.10 and its two-hundred day moving average price is $1.84. The company has a market cap of $46.18 million, a P/E ratio of -30.57 and a beta of 0.33.

Insider Buying and Selling at Globus Maritime

In other Globus Maritime news, Director Georgios Feidakis purchased 38,947 shares of the company’s stock in a transaction dated Tuesday, March 24th. The stock was bought at an average cost of $1.79 per share, for a total transaction of $69,715.13. Following the completion of the transaction, the director owned 5,955,827 shares in the company, valued at approximately $10,660,930.33. This represents a 0.66% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Insiders have purchased 80,032 shares of company stock valued at $141,388 in the last three months. 59.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Globus Maritime

Hedge funds and other institutional investors have recently made changes to their positions in the business. XTX Topco Ltd raised its position in shares of 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 buying an additional 8,327 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of Globus Maritime in the fourth quarter valued at approximately $58,000. Finally, Renaissance Technologies LLC acquired a new stake in shares of Globus Maritime in the fourth quarter valued at approximately $127,000. 31.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d+)” rating on shares of Globus Maritime in a research report on Monday, May 4th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price 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.