Globus Maritime (NASDAQ:GLBS) Upgraded to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of Globus Maritime (NASDAQ:GLBS) to a strong-buy rating in a report released on Saturday.

Several other research analysts have also weighed in on GLBS. Maxim Group boosted their price objective 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 upgraded shares of Globus Maritime from a “sell (d+)” rating to a “hold (c)” rating in a research note on Friday, June 12th. One equities 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.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $5.00.

Globus Maritime Price Performance

NASDAQ:GLBS opened at $2.77 on Friday. The stock has a market capitalization of $59.78 million, a PE ratio of 55.41 and a beta of 0.26. Globus Maritime has a 1-year low of $1.00 and a 1-year high of $3.24. The firm has a fifty day simple moving average of $2.48 and a 200 day simple moving average of $2.08. The company has a current ratio of 2.65, a quick ratio of 2.45 and a debt-to-equity ratio of 0.56.

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

Insiders Place Their Bets

In other Globus Maritime news, Director Georgios Feidakis purchased 114,766 shares of the company’s stock in a transaction that occurred on Monday, July 13th. The shares were acquired at an average price of $2.75 per share, for a total transaction of $315,606.50. Following the purchase, the director owned 6,578,633 shares in the company, valued at approximately $18,091,240.75. The trade was 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 link. Company insiders own 59.20% of the company’s stock.

Hedge Funds Weigh In On Globus Maritime

Institutional investors and hedge funds have recently modified their holdings of the stock. XTX Topco Ltd raised its position 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 during the period. NewEdge Advisors LLC acquired a new stake in shares of Globus Maritime during the 1st quarter worth about $37,000. Jane Street Group LLC acquired a new stake in shares of Globus Maritime during the 4th quarter worth about $58,000. Finally, Renaissance Technologies LLC bought a new stake in shares of Globus Maritime during the 4th quarter worth about $127,000. 31.60% of the stock is currently owned by institutional investors and hedge funds.

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.