Global Ship Lease Inc. [NYSE: GSL] loss -5.48% or -0.77 points to close at $13.29 with a heavy trading volume of 2242024 shares. The company report on April 9, 2021 that Global Ship Lease Announces Pricing of Secondary Offering of its Class A Common Shares by Certain Shareholders.
Global Ship Lease, Inc. (NYSE:GSL) announced the pricing of the previously announced secondary offering by certain shareholders of the Company (the “Offering”) of shares of Class A common stock, par value $0.01 per share (the “Common Shares”). KEP VI (Newco Marine), Ltd. and KIA VIII (Newco Marine), Ltd., both affiliates of Kelso & Company, a U.S. private equity firm, and Maas Capital Investments B.V. (together, the “Selling Shareholders”) have agreed to sell an aggregate of 4.5 million Common Shares in the Offering at a public offering price of $12.50 per Common Share. The Selling Shareholders have granted the underwriters a 30-day option to purchase up to an additional 675,000 Common Shares. The Company will not receive any proceeds from the sale of Common Shares by the Selling Shareholders.
The Company’s Common Shares are listed on the New York Stock Exchange under the symbol “GSL.”.
It opened the trading session at $13.25, the shares rose to $13.89 and dropped to $12.91, the range by which the price of stock traded the whole day. The daily chart for GSL points out that the company has recorded 84.07% gains over the past six months. However, it is still -266.12% lower than its most recent low trading price.
If we look at the average trading volume of 540.66K shares, GSL reached to a volume of 2242024 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Global Ship Lease Inc. [GSL]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for GSL shares is $18.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on GSL stock is a recommendation set at 1.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Jefferies have made an estimate for Global Ship Lease Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on February 12, 2021. While these analysts kept the previous recommendation, B. Riley FBR raised their target price to Buy. The new note on the price target was released on September 30, 2019, representing the official price target for Global Ship Lease Inc. stock. Previously, the target price had yet another raise to $9, while Clarksons Platou analysts kept a Buy rating on GSL stock.
The Average True Range (ATR) for Global Ship Lease Inc. is set at 1.04, with the Price to Sales ratio for GSL stock in the period of the last 12 months amounting to 1.80. The Price to Book ratio for the last quarter was 0.51, with the Price to Cash per share for the same quarter was set at 2.11. Price to Free Cash Flow for GSL in the course of the last twelve months was 5.09 with Quick ratio for the last quarter at 0.80.
Trading performance analysis for GSL stock
Global Ship Lease Inc. [GSL] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -9.96. With this latest performance, GSL shares dropped by -8.47% in over the last four-week period, additionally plugging by 84.07% over the last 6 months – not to mention a rise of 254.40% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for GSL stock in for the last two-week period is set at 42.03, with the RSI for the last a single of trading hit 36.74, and the three-weeks RSI is set at 45.23 for Global Ship Lease Inc. [GSL]. The present Moving Average for the last 50 days of trading for this stock 14.21, while it was recorded at 14.10 for the last single week of trading, and 9.32 for the last 200 days.
Global Ship Lease Inc. [GSL]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Global Ship Lease Inc. [GSL] shares currently have an operating margin of +40.13 and a Gross Margin at +43.08. Global Ship Lease Inc.’s Net Margin is presently recorded at +14.70.
Return on Total Capital for GSL is now 8.95, given the latest momentum, and Return on Invested Capital for the company is 3.50. Return on Equity for this stock inclined to 9.54, with Return on Assets sitting at 3.17. When it comes to the capital structure of this company, Global Ship Lease Inc. [GSL] has a Total Debt to Total Equity ratio set at 165.57. Additionally, GSL Total Debt to Total Capital is recorded at 62.34, with Total Debt to Total Assets ending up at 60.39. Long-Term Debt to Equity for the company is recorded at 149.07, with the Long-Term Debt to Total Capital now at 56.13.
Reflecting on the efficiency of the workforce at the company, Global Ship Lease Inc. [GSL] managed to generate an average of $5,937,571 per employee. Receivables Turnover for the company is 44.59 with a Total Asset Turnover recorded at a value of 0.22.Global Ship Lease Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.80 and a Current Ratio set at 0.90.
Global Ship Lease Inc. [GSL]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Global Ship Lease Inc. posted 0.02/share EPS, while the average EPS was predicted by analysts to be reported at 0.19/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -89.50%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for GSL. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Global Ship Lease Inc. go to 12.00%.
An analysis of insider ownership at Global Ship Lease Inc. [GSL]
There are presently around $78 million, or 20.90% of GSL stock, in the hands of institutional investors. The top three institutional holders of GSL stocks are: B. RILEY FINANCIAL, INC. with ownership of 2,196,224, which is approximately 0% of the company’s market cap and around 79.00% of the total institutional ownership; NOKOMIS CAPITAL, L.L.C., holding 1,237,791 shares of the stock with an approximate value of $16.45 million in GSL stocks shares; and PUNCH & ASSOCIATES INVESTMENT MANAGEMENT, INC., currently with $11.37 million in GSL stock with ownership of nearly 0% of the company’s market capitalization.
Positions in Global Ship Lease Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 10 institutional holders increased their position in Global Ship Lease Inc. [NYSE:GSL] by around 273,858 shares. Additionally, 5 investors decreased positions by around 275,537 shares, while 6 investors held positions by with 5,289,824 shares. The mentioned changes placed institutional holdings at 5,839,219 shares, according to the latest SEC report filing. GSL stock had 6 new institutional investments in for a total of 211,669 shares, while 2 institutional investors sold positions of 241,286 shares during the same period.