Scorpio Bulkers (SALT) : Analyst Rating Update

Scorpio Bulkers (SALT) : 6 analysts are covering Scorpio Bulkers (SALT) and their average rating on the stock is 2, which is read as a Buy. 3 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. A Zacks Investment Research rank of 2, which recommends a Buy affirms that they expect a large upside in the stock from the current levels. A total of 3 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.

Scorpio Bulkers (SALT) : The highest short term price target forecast on Scorpio Bulkers (SALT) is $18 and the lowest target price is $3. A total of 4 equity analysts are currently covering the company. The average price of all the analysts is $7.63 with a standard deviation of $6.97.

Scorpio Bulkers (NYSE:SALT): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $2.90 and $2.88 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $3.04. The buying momentum continued till the end and the stock did not give up its gains. It closed at $2.95, notching a gain of 0.34% for the day. The total traded volume was 335,741 . The stock had closed at $2.94 on the previous day.

The company shares have dropped -84.19% from its 1 Year high price. On Jul 29, 2015, the shares registered one year high at $23.40 and the one year low was seen on Feb 11, 2016. The 50-Day Moving Average price is $3.36 and the 200 Day Moving Average price is recorded at $3.76.

Scorpio Bulkers Inc is a company engaged in marine transportation, based in the Marshall Islands. It is a provider of transportation services of dry bulk commodities. The Company aims to acquire, own and operate a fleet of medium-sized dry bulk carriers. It has offices in Monaco and New York. The Company has contracted and agreed to purchase 28 Ultramax, 21 Kamsarmax and three Capesize newbuilding dry ship vessels, with deliveries scheduled from second quarter of 2014. It is a part of the Scorpio Group.

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