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

Gulf Marine Services PLC (LON:GMS) shares shot up 12.2% during mid-day trading on Friday . 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 Stock Up 0.6 %

The firm 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. The firm has a fifty day moving average of GBX 15.76 and a 200-day moving average of GBX 16.63.

Insider Buying and Selling

In related news, insider Charbel El Khoury bought 13,455 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The shares were acquired at an average price of GBX 15 ($0.19) per share, for a total transaction of £2,018.25 ($2,519.35). 51.56% of the stock is currently 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.