Scorpio Bulkers (NYSE:SALT) had its target price increased by BTIG Research to $9.00 in a report issued on Wednesday morning, The Fly reports. They currently have a buy rating on the shipping company’s stock.
A number of other brokerages have also weighed in on SALT. Noble Financial set a $9.00 target price on Scorpio Bulkers and gave the stock a buy rating in a research report on Friday, April 12th. B. Riley reaffirmed a neutral rating on shares of New York Community Bancorp in a research report on Wednesday, April 10th. Zacks Investment Research raised HB Fuller from a sell rating to a hold rating in a research report on Wednesday, July 3rd. Finally, ValuEngine raised Zynerba Pharmaceuticals from a hold rating to a buy rating in a research report on Tuesday, April 30th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $8.96.
Shares of SALT opened at $6.16 on Wednesday. Scorpio Bulkers has a 52-week low of $3.57 and a 52-week high of $7.55. 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 firm has a 50 day simple moving average of $4.65. The firm has a market capitalization of $438.72 million, a price-to-earnings ratio of -205.33 and a beta of 2.32.
Institutional investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA grew its holdings in Scorpio Bulkers by 451.4% during the first quarter. BNP Paribas Arbitrage SA now owns 11,354 shares of the shipping company’s stock worth $44,000 after buying an additional 9,295 shares in the last quarter. SG Americas Securities LLC bought a new stake in Scorpio Bulkers during the first quarter worth $46,000. Moors & Cabot Inc. bought a new stake in Scorpio Bulkers during the first quarter worth $56,000. Sippican Capital Advisors grew its holdings in Scorpio Bulkers by 14.4% during the first quarter. Sippican Capital Advisors now owns 27,630 shares of the shipping company’s stock worth $106,000 after buying an additional 3,485 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC bought a new stake in Scorpio Bulkers during the second quarter worth $152,000. Institutional investors and hedge funds own 36.82% of the company’s stock.
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.
Read More: Short Selling
Receive News & Ratings for Scorpio Bulkers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Scorpio Bulkers and related companies with MarketBeat.com's FREE daily email newsletter.