Scorpio Bulkers (SALT) : 6 analysts are covering Scorpio Bulkers (SALT) and their average rating on the stock is 1.67, which is read as a Buy. 4 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 2 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.
Scorpio Bulkers (SALT) : 5 investment research analysts covering Scorpio Bulkers (SALT) have an average price target of $7.1 for the near short term. The highest target price given by the Brokerage Firm to the stock is $18 and the lowest target is $3 for the short term. Analysts expect the variance to be within $6.15 of the average price.
Also, Equity analysts at the Brokerage firm UBS maintains its rating on Scorpio Bulkers (NYSE:SALT). The rating major has initiated the coverage with sell rating on the shares. The Analysts at UBS lowers the price target from $3.5 per share to $2.5 per share. The rating by the firm was issued on August 24, 2016.
Scorpio Bulkers (NYSE:SALT): After opening at $3.31, the stock dipped to an intraday low of $3.27 on Thursday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $3.44 and the buying power remained strong till the end. The stock closed at $3.34 for the day, a gain of 0.30% for the day session. The total traded volume was 492,717. The stocks close on the previous trading day was $3.33.
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.