GLBS Stock Price Increases Over 8% Pre-Market: Why It Happened

By Amit Chowdhry ● June 21, 2021
  • The stock price of Globus Maritime Ltd (NASDAQ: GLBS) increased by over 8% pre-market. This is why it happened.

The stock price of Globus Maritime Ltd (NASDAQ: GLBS) increased by over 8% pre-market. Investors are responding positively to the company’s financial results for the quarter ended March 31, 2021 on Friday afternoon. 

These are the highlights:

— For Q1 2021, the total revenues increased by about 126% compared to Q1 2020.

— The Adjusted EBITDA for Q1 2021 increased by 2.97 million or 1.8 times compared to Q1 2020.

— As of March 31, 2021 and December 31, 2020, the company’s cash and bank balances and bank deposits (including restricted cash) were $53.1 and $21.1 million, respectively, an increase of 152%.

— The Total comprehensive loss for Q1 2021 decreased by about 92% compared to Q1 2020.

— As of March 31, 2021, the total outstanding borrowings under our Loan agreements decreased to $31 million compared to $40 million as of March 31, 2020, gross of unamortized debt discount, a decrease of about 23%.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.