Globus Maritime (NASDAQ:GLBS) Share Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Globus Maritime Limited (NASDAQ:GLBS)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.42 and traded as high as $2.0750. Globus Maritime shares last traded at $1.99, with a volume of 44,802 shares trading hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $3.00.

Globus Maritime Stock Down 1.0%

The stock has a fifty day moving average of $1.76 and a 200-day moving average of $1.42. The firm has a market capitalization of $40.13 million, a price-to-earnings ratio of -8.86 and a beta of 0.48. The company has a current ratio of 2.34, a quick ratio of 2.22 and a debt-to-equity ratio of 0.59.

Institutional Trading of Globus Maritime

A number of hedge funds have recently bought and sold shares of GLBS. XTX Topco Ltd lifted its holdings 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 purchasing an additional 8,327 shares in the last quarter. Jane Street Group LLC acquired a new position in Globus Maritime during the 4th quarter valued at $58,000. Finally, Renaissance Technologies LLC bought a new position in Globus Maritime in the fourth quarter worth $127,000. 31.60% of the stock is owned by hedge funds and other institutional investors.

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.