Globus Maritime (NASDAQ:GLBS) Posts Earnings Results

Globus Maritime (NASDAQ:GLBS) announced its earnings results on Friday. The shipping company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.09, Zacks reports. The company had revenue of $14.61 million for the quarter, compared to analyst estimates of $13.90 million. Globus Maritime had a return on equity of 0.47% and a net margin of 1.72%.

Globus Maritime Stock Performance

Shares of NASDAQ GLBS opened at $3.19 on Friday. 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’s 50-day moving average price is $2.77 and its two-hundred day moving average price is $2.22. Globus Maritime has a 52-week low of $1.00 and a 52-week high of $3.29. The stock has a market capitalization of $68.85 million, a P/E ratio of 9.67 and a beta of 0.29.

Insider Activity at Globus Maritime

In related news, Director Georgios Feidakis purchased 114,766 shares of the company’s stock in a transaction dated Monday, July 13th. The shares were acquired at an average cost of $2.75 per share, for a total transaction of $315,606.50. Following the transaction, the director owned 6,578,633 shares of the company’s stock, valued at $18,091,240.75. This trade represents a 1.78% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 59.20% of the company’s stock.

Institutional Investors Weigh In On Globus Maritime

Large investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC acquired a new position in shares of Globus Maritime during the fourth quarter valued at $127,000. Jane Street Group LLC acquired a new stake in shares of Globus Maritime in the 4th quarter worth about $58,000. Finally, XTX Topco Ltd increased its holdings 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 during the period. 31.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GLBS has been the subject of a number of research reports. Weiss Ratings upgraded Globus Maritime from a “sell (d+)” rating to a “hold (c)” rating in a research note on Friday, June 12th. Maxim Group upped their price objective on Globus Maritime from $3.00 to $5.00 and gave the company a “buy” rating in a research note on Monday, June 15th. Finally, Wall Street Zen raised Globus Maritime to a “strong-buy” rating in a report on Saturday, July 18th. 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 company has an average rating of “Moderate Buy” and an average price target of $5.00.

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.