With the current price of $0.14, the stock of Globus Maritime Limited (NASDAQ:GLBS) concluded the trading session seeing its price rise by 0.01 points or at a gain of 11.08% compared to its previous day’s closing price of $0.13. About 20.752 million shares of the stock changed hands on the day. The trading volume of GLBS’s shares during the past session compares with the stock’s average daily trading volume of 15.819 million shares. On the other hand, a float of 5.79 million shares and a weekly performance of 15.98% make the stock worth to keep an eye on. Analysts are in agreement on an annual target price of $0 for GLBS’s share which suggests that the stock, price of which is currently buoying between $0.127 and $0.147, is prone to a loss of -100%. But still, there are some analysts recommending a price below the agreed average price and one of them has given a target price of $200 to the stock.
The latest data released on August 14, 2020 shows that the short float in the Globus Maritime Limited’s stock is trending upward as short interest in GLBS shares climbed up leaving more number of shares available to public for trading. Number of shares shorted in the GLBS is currently comprised of 55.68% of the float as the volume of shorted shares inclined by 895843 shares. Over the past two weeks, stock’s short interests weakened as number of shorted shares increased to 4.121 million shares from the previous figure of 3.225 million shares. Stock’s average intraday volume is now standing at 11.205 million shares which indicate that the days to cover the shorts are nearly 1.
After concluding the day’s trading, price of Globus Maritime Limited (NASDAQ:GLBS) is up $0.0199 over the week and it is -$0.0103 below20-day average price. The highest price touched by the stock on the day was lower than 52-week high price of $3.01 that was attained on 11/01/19.
The stock has traded as low as $0.12 in past 52-week, and its current price is 20.33% above from that 52-week low price mark recorded on 08/19/20, which is an indicator that could increase the investors’ motivation level in taking advantage of price surge the stock has currently been going through. Stock currently has its beta at 0.7. A beta value of more than 1 represents higher volatility of a stock than that of the market and for the reason investors closely watch the behavior of such stock.
Current indicators are pointing at 42.76 as 14-days RSI of Globus Maritime Limited. This means that the GLBS is currently in a neutral territory and its share’s price movement is likely to be steady for a while. Similarly, the stochastic oscillator is indicating a momentum of 38.4%, implying stock’s share price is buoying in a neutral state.
Technical chart is showing 1st resistance point of $0.1519 for the GLBS’s share while placing it at a 2nd resistance point of $0.1595 to be settled at. But if the stock takes a plunge lower than the 1st support price of $0.1319 then its market would become weakened. And that would likely sliding the stock price down to 2nd support price level of $0.1195.
MACD oscillator is showing a reading of -0.0003 for the stock which means that it is currently in the red zone. Any movement above or below the zero level of the indicator has always being noticed by the investors as it makes them compare the stock’s average measure in short-term with that in the long-term. An MACD evaluation of more than zero means that stock has a stronger short-term average than long-term average, which implies that stock’s price is likely to climb up. But an MACD below zero indicates weaker short-term average compare to the long-term average.
Wunderlich lifted its recommendation for GLBS stock from Hold to Buy in a review note dated April 14, and moved the price target up at $4 to $5. The stock gets a Hold recommendation from analysts at Wunderlich who changed the target price from $4.50 to $3.50 in their September 12 note to investors.Wunderlichanalysts downgraded their recommendation from Buy to Hold on May 16, while assigning a price target of $8 to $4.50.