Globus Maritime (NASDAQ:GLBS) Releases Quarterly Earnings Results, Beats Expectations By $0.10 EPS

Globus Maritime (NASDAQ:GLBS) announced its quarterly earnings data on Wednesday. The shipping company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.10, FiscalAI reports. Globus Maritime had a negative return on equity of 1.00% and a negative net margin of 3.95%.The company had revenue of $12.25 million for the quarter, compared to analyst estimates of $10.00 million.

Globus Maritime Price Performance

GLBS stock traded down $0.02 during trading on Wednesday, hitting $2.14. The company had a trading volume of 98,688 shares, compared to its average volume of 72,627. The company has a fifty day moving average price of $2.10 and a two-hundred day moving average price of $1.84. The company has a current ratio of 2.74, a quick ratio of 2.54 and a debt-to-equity ratio of 0.58. The company has a market cap of $46.18 million, a P/E ratio of -30.57 and a beta of 0.33. Globus Maritime has a fifty-two week low of $1.00 and a fifty-two week high of $2.44.

Insider Buying and Selling

In other Globus Maritime news, Director Georgios Feidakis acquired 38,947 shares of Globus Maritime stock in a transaction on Tuesday, March 24th. The shares were bought at an average price of $1.79 per share, with a total value of $69,715.13. Following the completion of the purchase, the director owned 5,955,827 shares in the company, valued at $10,660,930.33. This trade represents a 0.66% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders acquired a total of 80,032 shares of company stock valued at $141,388 over the last quarter. 59.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Globus Maritime

Several large investors have recently made changes to their positions in the company. XTX Topco Ltd increased its holdings in 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 last quarter. Jane Street Group LLC bought a new stake in Globus Maritime in the fourth quarter valued at about $58,000. Finally, Renaissance Technologies LLC bought a new stake in Globus Maritime in the fourth quarter valued at about $127,000. Institutional investors and hedge funds own 31.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Globus Maritime in a research note on Monday, May 4th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $3.00.

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.