Globus Maritime (NASDAQ:GLBS) Earns Hold Rating from Analysts at StockNews.com

Posted by on Jun 23rd, 2023

Research analysts at StockNews.com started coverage on shares of Globus Maritime (NASDAQ:GLBS – Get Rating) in a research report issued on Friday. The firm set a “hold” rating on the shipping company’s stock.

Globus Maritime Stock Performance

NASDAQ:GLBS opened at $0.94 on Friday. The company has a current ratio of 3.84, a quick ratio of 3.75 and a debt-to-equity ratio of 0.19. The firm has a 50-day moving average price of $0.97 and a two-hundred day moving average price of $1.08. Globus Maritime has a twelve month low of $0.89 and a twelve month high of $1.96. The company has a market capitalization of $19.35 million, a P/E ratio of 1.29 and a beta of 0.14.

Globus Maritime (NASDAQ:GLBS – Get Rating) last posted its earnings results on Friday, June 2nd. The shipping company reported $0.13 earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.27. Globus Maritime had a net margin of 28.49% and a return on equity of 8.60%. The firm had revenue of $8.58 million during the quarter.

Institutional Investors Weigh In On Globus Maritime

A number of hedge funds and other institutional investors have recently modified their holdings of GLBS. Advisor Group Holdings Inc. purchased a new stake in shares of Globus Maritime during the first quarter worth about $25,000. Renaissance Technologies LLC grew its holdings in shares of Globus Maritime by 733.9% during the first quarter. Renaissance Technologies LLC now owns 235,499 shares of the shipping company’s stock worth $544,000 after buying an additional 207,259 shares in the last quarter. Finally, Millennium Management LLC purchased a new stake in shares of Globus Maritime during the second quarter worth about $629,000. 3.17% of the stock is currently owned by hedge funds and other institutional investors.

Globus Maritime Company Profile

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Globus Maritime Limited, an integrated dry bulk shipping company, provides marine transportation services worldwide. It owns, operates, and manages a fleet of dry bulk vessels that transport iron ore, coal, grain, steel products, cement, alumina, and other dry bulk cargoes. As of March 20, 2023, the company's fleet include nine vessels with a total carrying capacity of 626,257 deadweight tonnage.

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