Gulf Marine Services (LON:GMS) Shares Up 12.2% – Here’s Why

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

Gulf Marine Services Stock Up 12.2 %

The business’s fifty day moving average price is GBX 15.76 and its 200 day moving average price is GBX 16.62. 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 capitalization of £187.25 million, a price-to-earnings ratio of 583.33 and a beta of 1.90.

Insiders Place Their Bets

In other news, insider Charbel El Khoury purchased 13,455 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The shares were acquired at an average price of GBX 15 ($0.19) per share, with a total value of £2,018.25 ($2,492.90). 51.56% of the stock is owned by 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.