Gulf Marine Services (LON:GMS) Stock Price Up 12.2% – Time to Buy?

Gulf Marine Services PLC (LON:GMS) shot up 12.2% on Thursday . The stock traded as high as GBX 17.83 ($0.22) and last traded at GBX 17.50 ($0.22). 19,376,670 shares changed hands during trading, an increase of 218% from the average session volume of 6,093,337 shares. The stock had previously closed at GBX 15.60 ($0.19).

Gulf Marine Services Price Performance

The business has a 50-day moving average of GBX 15.76 and a two-hundred day moving average of GBX 16.63. The company has a current ratio of 0.16, a quick ratio of 0.80 and a debt-to-equity ratio of 71.75. The firm has a market cap of £188.32 million, a P/E ratio of 586.67 and a beta of 1.90.

Insider Transactions at Gulf Marine Services

In other Gulf Marine Services news, insider Charbel El Khoury purchased 13,455 shares of the business’s stock in a transaction dated Tuesday, December 17th. The shares were bought at an average price of GBX 15 ($0.19) per share, for a total transaction of £2,018.25 ($2,519.98). Company insiders own 51.56% of the company’s stock.

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.