Globus Maritime (NASDAQ:GLBS) Stock Jumps 2% – Here’s What Happened

Globus Maritime Limited (NASDAQ:GLBS)’s share price was up 2% on Monday. The company traded as high as $2.65 and last traded at $2.60. Approximately 207,845 shares were traded during mid-day trading, an increase of 78% from the average daily volume of 116,556 shares. The stock had previously closed at $2.55.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Wall Street Zen raised shares of Globus Maritime to a “strong-buy” rating in a report on Saturday, July 18th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Globus Maritime in a report on Wednesday, November 4th. 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, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $5.00.

Globus Maritime Trading Up 8.7%

The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.68 and a current ratio of 2.77. The company has a 50-day simple moving average of $3.31 and a 200 day simple moving average of $2.61. The company has a market capitalization of $64.52 million, a P/E ratio of 9.06 and a beta of 0.31.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of GLBS. NewEdge Advisors LLC bought a new stake in Globus Maritime in the 1st quarter valued at $37,000. AXQ Capital LP acquired a new stake in shares of Globus Maritime during the 2nd quarter valued at about $39,000. Finally, Renaissance Technologies LLC boosted its position in shares of Globus Maritime by 96.8% during the 1st quarter. Renaissance Technologies LLC now owns 143,100 shares of the shipping company’s stock valued at $331,000 after acquiring an additional 70,400 shares in the last quarter. 31.60% of the stock is owned by institutional investors.

About Globus Maritime

Globus Maritime Ltd. is a dry bulk shipping company that owns, operates and manages ocean-going vessels used to transport commodities in international trade. Its vessels carry bulk cargoes such as iron ore, coal, grain and other agricultural or industrial materials. The company’s services are provided primarily through the chartering of its vessels to customers, including commodity producers, traders and other participants in the global supply chain. Dry bulk shipping routes can connect major exporting and importing regions across the Americas, Europe, Asia, Africa and Oceania, depending on customer demand and vessel deployment.