Globus Maritime (NASDAQ:GLBS) Downgraded to Sell at StockNews.com

StockNews.com downgraded shares of Globus Maritime (NASDAQ:GLBS) from a hold rating to a sell rating in a report issued on Friday.

Globus Maritime Price Performance

GLBS opened at $2.00 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.44 and a quick ratio of 4.28. The company has a market capitalization of $41.16 million, a price-to-earnings ratio of 22.22 and a beta of 0.15. The firm’s fifty day moving average price is $1.70 and its two-hundred day moving average price is $1.19. Globus Maritime has a 1 year low of $0.68 and a 1 year high of $2.45.

Globus Maritime (NASDAQ:GLBS) last announced its quarterly earnings data on Tuesday, September 12th. The shipping company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.09. Globus Maritime had a return on equity of 1.51% and a net margin of 6.42%. The business had revenue of $7.84 million for the quarter.

Institutional Investors Weigh In On Globus Maritime

Institutional investors have recently modified their holdings of the stock. Millennium Management LLC bought a new stake in Globus Maritime during the 2nd quarter valued at approximately $629,000. Renaissance Technologies LLC lifted its holdings in shares of Globus Maritime by 733.9% in the 1st 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 during the period. Finally, Advisor Group Holdings Inc. purchased a new stake in shares of Globus Maritime in the 1st quarter worth $25,000. 2.64% of the stock is owned by hedge funds and other institutional investors.

Globus Maritime Company Profile

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.