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

Gulf Marine Services PLC (LON:GMS) was up 12.2% 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 traded hands 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 0.6 %

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

Insider Activity at Gulf Marine Services

In other Gulf Marine Services news, insider Charbel El Khoury purchased 13,455 shares of the firm’s stock in a transaction on Tuesday, December 17th. The stock was bought at an average cost of GBX 15 ($0.19) per share, with a total value 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.