Maxim Group Raises Globus Maritime (NASDAQ:GLBS) Price Target to $5.00

Globus Maritime (NASDAQ:GLBS) had its price target upped by analysts at Maxim Group from $3.00 to $5.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the shipping company’s stock. Maxim Group’s price objective would suggest a potential upside of 90.48% from the stock’s current price.

Separately, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Globus Maritime in a report on Monday, May 4th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $5.00.

Globus Maritime Trading Up 11.7%

Shares of NASDAQ:GLBS opened at $2.63 on Monday. 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 stock has a market capitalization of $56.65 million, a price-to-earnings ratio of 51.89 and a beta of 0.33. Globus Maritime has a 1-year low of $1.00 and a 1-year high of $2.70. The company has a 50 day moving average price of $2.10 and a 200 day moving average price of $1.86.

Globus Maritime (NASDAQ:GLBS) last announced its quarterly earnings data on Wednesday, June 10th. The shipping company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.10. The company had revenue of $12.25 million during the quarter, compared to the consensus estimate of $10.40 million. Globus Maritime had a return on equity of 0.47% and a net margin of 1.72%.

Insiders Place Their Bets

In other news, Director Georgios Feidakis acquired 38,947 shares of the stock in a transaction on Tuesday, March 24th. The shares were purchased at an average cost of $1.79 per share, for a total transaction of $69,715.13. Following the transaction, the director owned 5,955,827 shares in the company, valued at approximately $10,660,930.33. This trade represents a 0.66% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders have purchased 80,032 shares of company stock worth $141,388. Insiders own 59.20% of the company’s stock.

Institutional Trading of Globus Maritime

Several hedge funds and other institutional investors have recently modified their holdings of the business. XTX Topco Ltd grew its holdings in shares of Globus Maritime by 64.6% during 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. NewEdge Advisors LLC purchased a new stake in Globus Maritime in the 1st quarter worth about $37,000. Jane Street Group LLC purchased a new stake in Globus Maritime in the 4th quarter worth about $58,000. Finally, Renaissance Technologies LLC boosted its position in Globus Maritime by 96.8% during the 1st 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 period. Institutional investors and hedge funds 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.