Gulf Marine Services (LON:GMS) Trading Up 8.3% – Time to Buy?

Gulf Marine Services PLC (LON:GMS) traded up 8.3% during mid-day trading on Thursday . The company traded as high as GBX 17.25 ($0.22) and last traded at GBX 16.90 ($0.21). 8,798,766 shares changed hands during mid-day trading, an increase of 62% from the average session volume of 5,432,218 shares. The stock had previously closed at GBX 15.60 ($0.19).

Gulf Marine Services Stock Performance

The firm has a 50 day moving average of GBX 15.76 and a 200-day moving average of GBX 16.63. The company has a market cap of £188.32 million, a P/E ratio of 586.67 and a beta of 1.90. The company has a quick ratio of 0.80, a current ratio of 0.16 and a debt-to-equity ratio of 71.75.

Insiders Place Their Bets

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

About Gulf Marine Services

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.