Zacks Investment Research downgraded Scorpio Bulkers Inc (NYSE:SALT) to Hold in a report released today.
- Updated: October 2, 2016
Yesterday Scorpio Bulkers Inc (NYSE:SALT) traded 2.06% higher at $3.61. The company’s 50-day moving average is $3.49 and its 200-day moving average is $3.43. The last closing price is up 0.79% from the 200-day moving average, compared to the S&P 500 which has decreased -0.01% over the same time period. 359,726 shares of the stock traded hands, down from an average trading volume of 417,045
Zacks Investment Research has downgraded Scorpio Bulkers Inc (NYSE:SALT) to Hold in a report released on 9/28/2016.
Previously on Tuesday September 27, 2016, Deutsche Bank reported on Scorpio Bulkers Inc (NYSE:SALT) increased the target price from $3.00 to $4.50. At the time, this indicated a possible upside of 0.21%.
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Scorpio Bulkers Inc has a 52 week low of $1.79 and a 52 week high of $19.80 The company’s market cap is currently $0.
In addition to Zacks Investment Research reporting its stock price target, a total of 11 brokers have issued a research note on the company. The average stock price target is $10.53 with 0 brokers rating the stock a strong buy, 0 brokers rating the stock a buy, 0 brokers rating the stock a hold, 0 brokers rating the stock a underperform, and finally 0 brokers rating the stock a sell.
General Information About Scorpio Bulkers Inc (NYSE:SALT)
Scorpio Bulkers Inc. is a shipping company. The Company offers marine transportation services for a range of bulk commodities, including ores, coal, grains and fertilizers using its vessels. The Company focuses to acquire and operate the drybulk carriers. The Company operates through three segments: Capesize, Kamsarmax and Ultramax. Its Capesize segment includes vessels of approximately 180,000 deadweight tonnage (DWT). Its Kamsarmax segment includes vessels ranging from 77,500 DWT to 98,700 DWT. Its Ultramax segment includes vessels ranging from 48,500 DWT to 64,000 DWT. The Company's Operating Fleet includes approximately 40 vessels, including over 30 owned drybulk vessels under Kamsarmax vessel type and over three chartered-in drybulk vessels under Ultramax vessel type. The Company also has contracts for the construction of approximately 20 newbuilding drybulk vessels, including Kamsarmax and Ultramax vessel types under its Newbuilding Program.
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