Other analysts have also recently issued reports about the stock. Zacks Investment Research raised shares of Scorpio Bulkers from a “hold” rating to a “buy” rating and set a $8.00 price objective for the company in a research note on Wednesday, October 30th. B. Riley reissued a “buy” rating on shares of Scorpio Bulkers in a research note on Tuesday, October 15th. Finally, Noble Financial set a $8.50 price objective on shares of Scorpio Bulkers and gave the company a “buy” rating in a research note on Tuesday, September 24th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Scorpio Bulkers has a consensus rating of “Buy” and a consensus price target of $8.38.
Shares of Scorpio Bulkers stock traded down $0.06 during trading on Monday, hitting $5.73. 186,303 shares of the company were exchanged, compared to its average volume of 404,281. The firm has a 50 day moving average price of $6.39 and a 200 day moving average price of $5.78. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.82. The stock has a market capitalization of $419.72 million, a price-to-earnings ratio of -191.00 and a beta of 2.34. Scorpio Bulkers has a fifty-two week low of $3.57 and a fifty-two week high of $7.78.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Millennium Management LLC boosted its position in Scorpio Bulkers by 64.6% during the 3rd quarter. Millennium Management LLC now owns 726,353 shares of the shipping company’s stock worth $4,416,000 after purchasing an additional 285,141 shares during the period. State Street Corp boosted its position in Scorpio Bulkers by 0.6% during the 3rd quarter. State Street Corp now owns 951,636 shares of the shipping company’s stock worth $5,786,000 after purchasing an additional 5,344 shares during the period. California Public Employees Retirement System boosted its position in Scorpio Bulkers by 15.0% during the 3rd quarter. California Public Employees Retirement System now owns 177,751 shares of the shipping company’s stock worth $1,081,000 after purchasing an additional 23,167 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in Scorpio Bulkers during the 3rd quarter worth $1,003,000. Finally, Rhumbline Advisers boosted its position in Scorpio Bulkers by 8.2% during the 3rd quarter. Rhumbline Advisers now owns 83,229 shares of the shipping company’s stock worth $506,000 after purchasing an additional 6,284 shares during the period. 34.92% of the stock is owned by institutional investors.
Scorpio Bulkers Company Profile
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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