Safe Bulkers Short Interest Up 84.4% in April (SB)
Safe Bulkers (NYSE:SB) was the target of a large increase in short interest in April. As of April 30th, there was short interest totalling 1,403,434 shares, an increase of 84.4% from the April 15th total of 761,280 shares, Stock Ratings Network.com reports. Based on an average trading volume of 476,077 shares, the days-to-cover ratio is presently 2.9 days. Currently, 4.1% of the company’s stock are short sold.
SB has been the subject of a number of recent research reports. Analysts at Jefferies Group upgraded shares of Safe Bulkers from a “hold” rating to a “buy” rating in a research note on Monday, April 21st. They now have a $11.00 price target on the stock. Separately, analysts at TheStreet upgraded shares of Safe Bulkers from a “hold” rating to a “buy” rating in a research note on Wednesday, April 9th. Finally, analysts at Zacks downgraded shares of Safe Bulkers from an “outperform” rating to a “neutral” rating in a research note on Wednesday, March 19th. They now have a $12.30 price target on the stock. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $10.04.
Shares of Safe Bulkers (NYSE:SB) opened at 8.62 on Monday. Safe Bulkers has a 1-year low of $4.78 and a 1-year high of $11.48. The stock’s 50-day moving average is $8.36 and its 200-day moving average is $9.. The company has a market cap of $719.2 million and a price-to-earnings ratio of 7.92.
Safe Bulkers, Inc (NYSE:SB) is an international provider of marine dry bulk transportation services, transporting bulk cargoes, particularly coal, grain and iron ore, along global shipping routes for some of the global consumers of marine dry bulk transportation services.
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