Baltic Trading Limit Coverage Initiated at Imperial Capital (BALT)
Equities research analysts at Imperial Capital assumed coverage on shares of Baltic Trading Limit (NASDAQ:BALT) in a research note issued to investors on Thursday, TheFlyOnTheWall.com reports. The firm set an “outperform” rating and a $7.00 price target on the stock. Imperial Capital’s price target would indicate a potential upside of 45.23% from the stock’s previous close. The analysts noted that the move was a valuation call.
A number of other analysts have also recently weighed in on BALT. Analysts at Jefferies Group reiterated a “buy” rating on shares of Baltic Trading Limit in a research note to investors on Tuesday. They now have a $8.00 price target on the stock. Separately, 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. Finally, 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.
Baltic Trading Limit (NASDAQ:BALT) traded down 2.82% on Thursday, hitting $4.82. The stock had a trading volume of 703,484 shares. Baltic Trading Limit has a 1-year low of $2.70 and a 1-year high of $5.71. The stock has a 50-day moving average of $4.43 and a 200-day moving average of $3.87. The company’s market cap is $140.0 million.
Baltic Trading Limit (NASDAQ:BALT) last released its 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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