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

Shares of Gulf Marine Services PLC (LON:GMS) shot up 12.2% on Thursday . The company traded as high as GBX 17.83 ($0.22) and last traded at GBX 17.50 ($0.22). 19,376,670 shares were traded 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 12.2 %

The company has a market cap of £187.25 million, a P/E ratio of 583.33 and a beta of 1.90. The company has a debt-to-equity ratio of 71.75, a current ratio of 0.16 and a quick ratio of 0.80. The company has a 50 day moving average of GBX 15.76 and a 200-day moving average of GBX 16.62.

Insider Activity at Gulf Marine Services

In other news, insider Charbel El Khoury purchased 13,455 shares of the business’s stock in a transaction on 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.

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.