Separately, Zacks Investment Research upgraded Global Ship Lease from a hold rating to a strong-buy rating and set a $7.75 price objective for the company in a research report on Monday, June 3rd.
Shares of GSL opened at $7.80 on Tuesday. The company has a debt-to-equity ratio of 2.36, a quick ratio of 0.90 and a current ratio of 0.96. The stock has a 50 day simple moving average of $6.95 and a 200 day simple moving average of $6.11. Global Ship Lease has a 52-week low of $4.00 and a 52-week high of $11.20. The firm has a market capitalization of $67.51 million, a PE ratio of 4.41 and a beta of 0.96.
Several institutional investors and hedge funds have recently modified their holdings of GSL. BlackRock Inc. acquired a new position in shares of Global Ship Lease in the 2nd quarter valued at approximately $110,000. Deutsche Bank AG acquired a new position in shares of Global Ship Lease in the 4th quarter valued at approximately $186,000. Clear Harbor Asset Management LLC grew its position in shares of Global Ship Lease by 131.0% in the 2nd quarter. Clear Harbor Asset Management LLC now owns 40,170 shares of the shipping company’s stock valued at $296,000 after purchasing an additional 22,781 shares during the period. Finally, Renaissance Technologies LLC grew its position in shares of Global Ship Lease by 11.8% in the 2nd quarter. Renaissance Technologies LLC now owns 252,975 shares of the shipping company’s stock valued at $1,866,000 after purchasing an additional 26,750 shares during the period. Institutional investors and hedge funds own 4.71% of the company’s stock.
About Global Ship Lease
Global Ship Lease, Inc owns and charters containerships of various sizes under fixed-rate charters to container shipping companies. As of December 31, 2018, it owned 38 vessels with a total capacity of 200,615 twenty-foot equivalent units. The company is based in London, the United Kingdom.
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