Baltic Trading Limit’s “Buy” Rating Reaffirmed at Jefferies Group (BALT)
Baltic Trading Limit (NASDAQ:BALT)‘s stock had its “buy” rating reiterated by equities research analysts at Jefferies Group in a research note issued to investors on Tuesday, Stock Ratings Network.com reports. They currently have a $8.00 price target on the stock. Jefferies Group’s price target points to a potential upside of 56.86% from the stock’s previous close.
A number of other firms have also recently commented on BALT. Analysts at Sidoti upgraded shares of Baltic Trading Limit from a “neutral” rating to a “buy” rating in a research note to investors on Friday, September 13th. Analysts at Global Hunter Securities upgraded shares of Baltic Trading Limit 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.
Shares of Baltic Trading Limit (NASDAQ:BALT) traded down 1.96% during mid-day trading on Tuesday, hitting $5.00. 402,078 shares of the company’s stock traded hands. Baltic Trading Limit has a 52-week low of $2.70 and a 52-week high of $5.71. The stock’s 50-day moving average is $4.43 and its 200-day moving average is $3.87. The company’s market cap is $145.2 million.
Baltic Trading Limit (NASDAQ:BALT) last issued its quarterly earnings data on Wednesday, July 31st. The company reported ($0.19) EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted ($0.16) earnings per share. The company’s quarterly revenue was down 16.1% on a year-over-year basis.
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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