Globus Maritime Limited (GLBS) Just Reaches 52 Week Low?

July 16, 2018 - By Jack Shaw

The stock of Globus Maritime Limited (NASDAQ:GLBS) hit a new 52-week low and has $0.46 target or 4.00 % below today’s $0.48 share price. The 5 months bearish chart indicates high risk for the $15.47 million company. The 1-year low was reported on Jul, 16 by Barchart.com. If the $0.46 price target is reached, the company will be worth $618,640 less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock.

The stock increased 2.35% or $0.011 during the last trading session, reaching $0.483. About 56,655 shares traded. Globus Maritime Limited (NASDAQ:GLBS) has declined 37.73% since July 16, 2017 and is downtrending. It has underperformed by 50.30% the S&P500.

Globus Maritime Limited, an integrated dry bulk shipping company, provides marine transportation services worldwide. The company has market cap of $15.47 million. The firm 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. It currently has negative earnings. As of March 31, 2017, it owned and operated five vessels with a total carrying capacity of 300.571 deadweight tonnage.

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