Globus Maritime Limited (NASDAQ:GLBS) is among the top gainers of the stock market today, skyrocketing 5.26% or (0.15 points) to $3 from its previous close of $2.85. Does this growth mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 89959 contracts so far this session. GLBS shares had a relatively better volume day versus average trading capacity of 684.77 thousand shares, but with a 2.64 million float and a 1.79% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for GLBS stock indicates that the average analyst price target is $20 per share. This means the stock has a potential increase of 566.67% from where the GLBS share price has been trading recently which is between $2.8 and $2.96.
The shorts are climbing into Globus Maritime Limited (GLBS) stock. The latest set of short interest data was released on 30 April 2019, and the numbers show a rise in short interest in GLBS shares. While short interest still represents only 5.09% of GLBS’s float, the number of shares shorted have risen by 83694. The number of shares shorted advanced to 218001 shares, up from 134307 shares during the preceding fortnight. With average daily trading volumes at 186789 shares, days to cover increased to about 1 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Globus Maritime Announces Conversion of Debt and Issuance of Shares” and dated May 02, 2019.
During the recent trading session for Globus Maritime Limited (NASDAQ:GLBS), the company witnessed their stock rise $0.02 over a week and tumble down $-0.17 from the price 20 days ago. When compared to their established 52-week high of $11.9, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 11/01/18. The recent low of $2.46 stood for a -74.79% since 12/27/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 2.48 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Globus Maritime Limited, the two-week RSI stands at 43.99. This figure suggests that GLBS stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current GLBS readings is similarly very revealing as it has a stochastic reading of 37.51% at this stage. This figure means that GLBS share price today is being neutral.
Technical chart claims that Globus Maritime Limited (GLBS) would settle between $2.94/share to $3.03/share level. However, if the stock price goes below the $2.78 mark, then the market for Globus Maritime Limited becomes much weaker. If that happens, the stock price might even plunge as low as $2.71 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.01. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Wunderlich raised their recommendation on shares of GLBS from Hold to Buy in their opinion released on April 14. Wunderlich analysts again handed out a Hold recommendation to Globus Maritime Limited (NASDAQ:GLBS) stock but they lifted target price for the shares in a flash note issued to investors on September 12. The target price has been raised from $4.50 to $3.50. Analysts at Wunderlich lowered the stock to a Hold call from its previous Buy recommendation, in a research note that dated back to May 16.
Moving on, GLBS stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/S ratio is 2.32 while for the average stock in the same group, the multiple is 0.65.