Globus Maritime (NASDAQ:GLBS) Stock Rating Upgraded by Wall Street Zen

Globus Maritime (NASDAQ:GLBS) was upgraded by research analysts at Wall Street Zen to a “strong-buy” rating in a research report issued to clients and investors on Saturday.

Several other research firms also recently commented on GLBS. Maxim Group raised their price target on shares of Globus Maritime from $3.00 to $5.00 and gave the stock 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 research report on Friday, June 12th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $5.00.

Globus Maritime Price Performance

Shares of GLBS stock opened at $2.77 on Friday. The stock has a 50 day moving average price of $2.48 and a 200 day moving average price of $2.09. Globus Maritime has a 52-week low of $1.00 and a 52-week high of $3.24. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.45 and a current ratio of 2.65. The firm has a market capitalization of $59.78 million, a P/E ratio of 55.41 and a beta of 0.26.

Globus Maritime (NASDAQ:GLBS) last announced 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 company had revenue of $12.25 million for the quarter, compared to the consensus estimate of $10.40 million.

Insider Buying and Selling at Globus Maritime

In other Globus Maritime news, Director Georgios Feidakis acquired 114,766 shares of the stock in a transaction that occurred on Monday, July 13th. The stock was bought at an average cost of $2.75 per share, with a total value of $315,606.50. Following the completion of the purchase, the director directly owned 6,578,633 shares in the company, valued at $18,091,240.75. The trade was a 1.78% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 59.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Globus Maritime

Large investors have recently modified their holdings of the business. Renaissance Technologies LLC bought a new position in Globus Maritime in the fourth quarter worth approximately $127,000. Jane Street Group LLC purchased a new position in shares of Globus Maritime in the 4th quarter valued at $58,000. NewEdge Advisors LLC purchased a new position in shares of Globus Maritime in the 1st quarter valued at $37,000. Finally, XTX Topco Ltd raised its position in shares of Globus Maritime by 64.6% in the 4th quarter. XTX Topco Ltd now owns 21,209 shares of the shipping company’s stock worth $37,000 after acquiring an additional 8,327 shares in the last quarter. Institutional investors own 31.60% of the company’s stock.

About Globus Maritime

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.