Scorpio Bulkers (NYSE:SALT) had its price target hoisted by BTIG Research to $9.00 in a research report released on Wednesday morning, The Fly reports. They currently have a buy rating on the shipping company’s stock.
A number of other equities research analysts also recently weighed in on the company. Zacks Investment Research raised HB Fuller from a sell rating to a hold rating in a report on Wednesday, July 3rd. ValuEngine raised Zynerba Pharmaceuticals from a hold rating to a buy rating in a report on Tuesday, April 30th. Noble Financial set a $9.00 target price on Scorpio Bulkers and gave the stock a buy rating in a report on Friday, April 12th. Finally, B. Riley reissued a neutral rating on shares of New York Community Bancorp in a report on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. Scorpio Bulkers presently has a consensus rating of Buy and a consensus target price of $8.96.
NYSE SALT traded up $0.23 during trading on Wednesday, reaching $6.15. 607,800 shares of the company traded hands, compared to its average volume of 416,699. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.43 and a current ratio of 0.43. The stock has a 50 day moving average price of $4.61. The firm has a market capitalization of $423.07 million, a P/E ratio of -205.00 and a beta of 2.32. Scorpio Bulkers has a 1-year low of $3.57 and a 1-year high of $7.55.
Institutional investors and hedge funds have recently made changes to their positions in the company. BNP Paribas Arbitrage SA raised its position in Scorpio Bulkers by 451.4% in the 1st quarter. BNP Paribas Arbitrage SA now owns 11,354 shares of the shipping company’s stock worth $44,000 after purchasing an additional 9,295 shares during the last quarter. SG Americas Securities LLC bought a new position in Scorpio Bulkers in the 1st quarter worth approximately $46,000. Moors & Cabot Inc. bought a new position in Scorpio Bulkers in the 1st quarter worth approximately $56,000. Sippican Capital Advisors raised its position in Scorpio Bulkers by 14.4% in the 1st quarter. Sippican Capital Advisors now owns 27,630 shares of the shipping company’s stock worth $106,000 after purchasing an additional 3,485 shares during the last quarter. Finally, Mraz Amerine & Associates Inc. bought a new position in Scorpio Bulkers in the 1st quarter worth approximately $143,000. 36.82% of the stock is currently owned by institutional investors and hedge funds.
About Scorpio Bulkers
Scorpio Bulkers Inc, a shipping company, owns and operates dry bulk carriers worldwide. Its vessels transport a range of bulk commodities, including ores, coal, grains, and fertilizers. The company owns and operates 55 vessels, including 54 wholly-owned or finance leased drybulk vessels comprising 17 Kamsarmax vessels and 37 Ultramax vessels; and 1 time chartered-in Ultramax vessel.
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