Gulf Marine Services (LON:GMS) Trading 11.7% Higher – Here’s Why

Gulf Marine Services PLC (LON:GMS) shares traded up 11.7% during mid-day trading on Thursday . The company traded as high as GBX 17.45 ($0.22) and last traded at GBX 17.42 ($0.22). 16,330,703 shares changed hands during mid-day trading, an increase of 177% from the average session volume of 5,902,964 shares. The stock had previously closed at GBX 15.60 ($0.19).

Gulf Marine Services Stock Performance

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

Insider Buying and Selling

In other news, insider Charbel El Khoury purchased 13,455 shares of the business’s stock in a transaction dated 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 ($2,519.98). 51.56% of the stock is owned by corporate insiders.

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.