Baltic Trading Limit Upgraded to Buy at Sidoti (BALT)
Baltic Trading Limit (NASDAQ:BALT) was upgraded by Sidoti from a “neutral” rating to a “buy” rating in a research note issued on Friday, TheFlyOnTheWall.com reports.
Shares of Baltic Trading Limit (NASDAQ:BALT) traded down 0.58% on Friday, hitting $5.17. The stock had a trading volume of 191,873 shares. Baltic Trading Limit has a 52-week low of $2.70 and a 52-week high of $5.71. The stock has a 50-day moving average of $4.40 and a 200-day moving average of $3.85. The company’s market cap is $150.2 million.
Baltic Trading Limit (NASDAQ:BALT) last announced its earnings results on Wednesday, July 31st. The company reported ($0.19) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.20) by $0.01. The company had revenue of $6.38 million for the quarter, compared to the consensus estimate of $6.12 million. During the same quarter last year, the company posted ($0.16) earnings per share. Baltic Trading Limit’s revenue was down 16.1% compared to the same quarter last year.
A number of other firms have also recently commented on BALT. Analysts at Global Hunter Securities upgraded shares of Baltic Trading Limit (NASDAQ:BALT) from a “neutral” rating to a “buy” rating in a research note to investors on Wednesday, September 4th. They now have a $7.00 price target on the stock, up previously from $5.00. Separately, analysts at Jefferies Group raised their price target on shares of Baltic Trading Limit (NASDAQ:BALT) from $6.00 to $7.00 in a research note to investors on Friday, July 19th. They now have a “buy” rating on the stock. Finally, analysts at Jefferies Group reiterated a “buy” rating on shares of Baltic Trading Limit (NASDAQ:BALT) in a research note to investors on Monday, July 8th.
Baltic Trading Limited is engaged in owning drybulk vessels. The Company intends to operate its vessels on voyage charters in the spot market; on trip charters, which are spot market-related time charters; or in vessel pools trading in the spot market.
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