Globus Maritime (NASDAQ:GLBS) Releases Earnings Results, Beats Estimates By $0.09 EPS

Globus Maritime (NASDAQ:GLBS) announced its quarterly earnings results on Tuesday. The shipping company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.09, MarketWatch Earnings reports. Globus Maritime had a return on equity of 8.60% and a net margin of 28.49%. The business had revenue of $7.84 million for the quarter.

Globus Maritime Price Performance

Shares of Globus Maritime stock opened at $0.91 on Thursday. The stock has a market capitalization of $18.63 million, a price-to-earnings ratio of 1.24 and a beta of 0.17. The firm’s 50-day moving average price is $0.90 and its two-hundred day moving average price is $0.97. The company has a current ratio of 3.84, a quick ratio of 3.75 and a debt-to-equity ratio of 0.19. Globus Maritime has a 1-year low of $0.68 and a 1-year high of $1.74.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on shares of Globus Maritime in a research note on Monday. They issued a “hold” rating on the stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Advisor Group Holdings Inc. acquired a new stake in Globus Maritime during the 1st quarter valued at $25,000. Renaissance Technologies LLC boosted its stake in Globus Maritime by 733.9% in the first quarter. Renaissance Technologies LLC now owns 235,499 shares of the shipping company’s stock worth $544,000 after purchasing an additional 207,259 shares in the last quarter. Finally, Millennium Management LLC bought a new stake in shares of Globus Maritime during the second quarter worth $629,000. Institutional investors own 2.64% of the company’s stock.

About Globus Maritime

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.