Scorpio Bulkers (SALT) : Traders are bullish on Scorpio Bulkers (SALT) as it has outperformed the S&P 500 by a wide margin of 0.82% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 3.8%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 3.12% in the last 1 week, and is up 0.61% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
For the current week, the company shares have a recommendation consensus of Buy. The stock has recorded a twenty day Moving Average of 0.73% and the fifty day Moving Average is 6.22%. Scorpio Bulkers Inc. has dropped 13.8% during the last three month period . Year-to-Date the stock performance stands at -66.53%.
Scorpio Bulkers (SALT) has been rated by 5 research analysts. Fundamentally, the highest shorterm price forecast for the stock is expected to reach $18 and the lowest price target forecast is $3. The average forecast of all the analysts is $7.1 and the expected standard deviation is $6.15.
Scorpio Bulkers (NYSE:SALT): stock turned positive on Friday. Though the stock opened at $3.27, the bulls momentum made the stock top out at $3.51 level for the day. The stock recorded a low of $3.27 and closed the trading day at $3.31, in the green by 1.85%. The total traded volume for the day was 223,366. The stock had closed at $3.25 in the previous days trading.
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.