Globus Maritime (NASDAQ:GLBS) Share Price Crosses Above 200-Day Moving Average – Here’s Why

Shares of Globus Maritime Limited (NASDAQ:GLBS) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $1.97 and traded as high as $3.09. Globus Maritime shares last traded at $2.99, with a volume of 59,002 shares traded.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on GLBS. Maxim Group lifted their price target on Globus Maritime from $3.00 to $5.00 and gave the company a “buy” rating in a research note on Monday, June 15th. Weiss Ratings raised shares of Globus Maritime from a “sell (d+)” rating to a “hold (c)” rating in a report on Friday, June 12th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, Globus Maritime has a consensus rating of “Moderate Buy” and an average price target of $5.00.

Globus Maritime Stock Performance

The company has a quick ratio of 2.45, a current ratio of 2.65 and a debt-to-equity ratio of 0.56. The firm has a 50-day moving average price of $2.31 and a two-hundred day moving average price of $1.98. The firm has a market cap of $66.68 million, a PE ratio of 61.81 and a beta of 0.26.

Globus Maritime (NASDAQ:GLBS) last posted its quarterly earnings data on Thursday, June 11th. The shipping company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.05) by $0.10. Globus Maritime had a return on equity of 0.47% and a net margin of 1.72%.The firm had revenue of $12.25 million during the quarter, compared to the consensus estimate of $10.40 million.

Hedge Funds Weigh In On Globus Maritime

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GLBS. NewEdge Advisors LLC acquired a new position in shares of Globus Maritime during the 1st quarter valued at about $37,000. 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. XTX Topco Ltd raised 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 during the period. Finally, Jane Street Group LLC purchased a new stake in Globus Maritime in the fourth quarter valued at $58,000. Institutional investors and hedge funds own 31.60% of the company’s stock.

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.