Globus Maritime (NASDAQ:GLBS) Stock Price Up 2% – Should You Buy?

Globus Maritime Limited (NASDAQ:GLBS)’s share price rose 2% during trading on Monday. The company traded as high as $2.65 and last traded at $2.60. 207,845 shares were traded during mid-day trading, an increase of 78% from the average session volume of 116,556 shares. The stock had previously closed at $2.55.

Analyst Upgrades and Downgrades

Several research firms recently commented on GLBS. Wall Street Zen upgraded shares of Globus Maritime to a “strong-buy” rating in a research report on Saturday, July 18th. Weiss Ratings raised shares of Globus Maritime from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, August 11th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $5.00.

Globus Maritime Stock Performance

The company has a quick ratio of 2.68, a current ratio of 2.77 and a debt-to-equity ratio of 0.54. The stock has a fifty day moving average of $3.32 and a 200-day moving average of $2.61. The stock has a market cap of $56.11 million, a PE ratio of 7.88 and a beta of 0.31.

Globus Maritime (NASDAQ:GLBS) last issued its quarterly earnings results on Friday, August 7th. The shipping company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.09. The firm had revenue of $14.61 million for the quarter, compared to analysts’ expectations of $13.90 million. Globus Maritime had a return on equity of 3.80% and a net margin of 12.72%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC increased its holdings in shares of Globus Maritime by 96.8% in the first quarter. Renaissance Technologies LLC now owns 143,100 shares of the shipping company’s stock valued at $331,000 after purchasing an additional 70,400 shares during the period. NewEdge Advisors LLC raised its stake in shares of Globus Maritime by 189.4% during the second quarter. NewEdge Advisors LLC now owns 46,939 shares of the shipping company’s stock worth $140,000 after purchasing an additional 30,717 shares during the last quarter. Finally, AXQ Capital LP acquired a new stake in shares of Globus Maritime during the second quarter worth $39,000. 31.60% of the stock is currently owned by hedge funds and other institutional investors.

Globus Maritime Company Profile

Globus Maritime Ltd. is a dry bulk shipping company that owns, operates and manages ocean-going vessels used to transport commodities in international trade. Its vessels carry bulk cargoes such as iron ore, coal, grain and other agricultural or industrial materials.

The company’s services are provided primarily through the chartering of its vessels to customers, including commodity producers, traders and other participants in the global supply chain. Dry bulk shipping routes can connect major exporting and importing regions across the Americas, Europe, Asia, Africa and Oceania, depending on customer demand and vessel deployment.

Globus Maritime is headquartered in Athens, Greece, and has historically focused on operating a fleet of oceangoing dry bulk carriers.