Gulf Marine Services (LON:GMS) Share Price Crosses Above 50-Day Moving Average – Here’s Why

Gulf Marine Services PLC (LON:GMS)’s share price crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of GBX 16.69 ($0.21) and traded as high as GBX 18.65 ($0.24). Gulf Marine Services shares last traded at GBX 18.60 ($0.24), with a volume of 1,397,147 shares.

Gulf Marine Services Trading Down 2.3 %

The business’s 50-day moving average is GBX 16.75 and its two-hundred day moving average is GBX 16.80. The company has a current ratio of 0.16, a quick ratio of 0.80 and a debt-to-equity ratio of 72.38. The stock has a market capitalization of £243.98 million, a PE ratio of 6.35 and a beta of 1.90.

Insider Buying and Selling

In other news, insider Charbel El Khoury acquired 13,455 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were purchased at an average price of GBX 15 ($0.19) per share, for a total transaction of £2,018.25 ($2,559.61). 51.56% of the stock is owned by corporate insiders.

Gulf Marine Services Company Profile

Gulf Marine Services PLC was founded in Abu Dhabi in 1977 and has become a world leading provider of advanced self-propelled self-elevating support vessels (SESVs). The fleet serves the oil, gas and renewable energy industries from its offices in the United Arab Emirates, Saudi Arabia and Qatar. The Group’s assets are capable of serving clients’ requirements across the globe, including those in the Middle East, South East Asia, West Africa, North America, the Gulf of Mexico and Europe.
The GMS fleet of 13 SESVs is amongst the youngest in the industry, with an average age of eight years.