On Tuesday, Globus Maritime Limited (NASDAQ:GLBS) shares price traded between $0.37 and $0.43 during the last trading session upbeat with +0.04% at $0.39 . The shares recorded a trading volume 143,968 million shares as compared to its average volume of 277,144 shares. The company has 32.04M shares outstanding and market value of 12.495M. Over the one year trading period, the stock has a peak price of $2.26 and its down is recorded at $0.28. The short ratio in the (Ticker) stock is 1.55 and the short float is around of 5.02%. On DAY, Globus Maritime Limited (GLBS) oscillated between $0.37 and $0.43 before concluding trading period lower/higher +0.04% at $0.39 . The stock recorded total trading quantity of 143,968 shares as compared to its average volume of 277,144 shares. The share price fluctuated between $0.28 to $2.26 during the 52-week trading period. The firm has a total market worth of $277.14k and $12.495M shares remain outstanding.
Globus Maritime Limited (NASDAQ:GLBS), a dry bulk shipping company, recently stated its unaudited consolidated operating and financial results for the quarter ended March 31, 2018.
First Quarter of the Year 2018 contrast to the First Quarter of the Year 2017
Total comprehensive loss for the first quarter of the year 2018 amounted to $1.5M or $0.05 basic loss per share based on 31,896,777 weighted average number of shares, contrast to total comprehensive loss of $2.3M for the same period last year or $0.14 basic loss per share based on 17,017,133 weighted average numbers of shares.
During the three-month period ended March 31, 2018 and 2017, our Voyage revenues reached $3.9M and $2.6M respectively. The 50% increase in Voyage revenues was mainly attributed to the increase in the average time charter rates achieved by our vessels during the first quarter of 2018 contrast to the same period in 2017. The Daily Time Charter Equivalent rate (“TCE”) for the first quarter of 2018 was $8,039 per vessel per day versus $5,079 per vessel per day during the same period in 2017 representing a raise of 58%.
Voyage expenses reached $0.4M during the first quarter of 2018 contrast to $0.3M during the same period last year. Voyage expenses include commissions on revenues, port and other voyage expenses and bunker expenses. Bunker expenses mainly refer to the cost of bunkers consumed during periods that our vessels are travelling seeking employment.
Vessel operating expenses
Vessel operating expenses, which include crew costs, provisions, deck and engine stores, lubricating oils, insurance, maintenance and repairs, increased by $0.4M or 18% to $2.6M during the three month period ended March 31, 2018 contrast to $2.2M during the same period in 2017.
Liquidity and capital resources
As of March 31, 2018 and 2017 our cash and cash equivalents were $2.1M and $1.3M respectively.
Net cash used in operating activities for the three-month period ended March 31, 2018 was $0.1M contrast to Net cash used in operating activities of $0.9M during the respective period in 2017. The increase in our cash from operations was mainly attributed to the increase from adjusted LBITDA of $0.4M during the first quarter of 2017 to adjusted EBITDA of $0.4M during the three-month period under consideration.
Globus Maritime Limited’s (GLBS) price volatility for a month noted as 14.85% however its price volatility for a week documented as 7.10%. The corporation holds 31.66 million outstanding shares and its 10.82 million shares were floated in the market. The stock established a positive trend of 0.03% in last week and indicated fall of -13.31% in previous month.