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Shares of Baltic Trading Limit (NASDAQ:BALT) have earned a consensus recommendation of “Buy” from the eight analysts that are currently covering the company, AnalystRatings.Net reports. Two research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $7.62.

A number of research firms have recently commented on BALT. Analysts at MLV & Co
initiated coverage on shares of Baltic Trading Limit in a research note on Wednesday. They set a “hold” rating on the stock. Separately, analysts at Global Hunter Securities reiterated a “buy” rating on shares of Baltic Trading Limit in a research note on Friday, May 9th. They now have a $8.00 price target on the stock, down previously from $9.00. Finally, analysts at Imperial Capital raised their price target on shares of Baltic Trading Limit from $7.00 to $8.00 in a research note on Friday, February 28th.

Shares of Baltic Trading Limit (NASDAQ:BALT) traded down 2.48% during mid-day trading on Wednesday, hitting $6.6901. The stock had a trading volume of 140,109 shares. Baltic Trading Limit has a one year low of $3.41 and a one year high of $7.94. The stock’s 50-day moving average is $6.26 and its 200-day moving average is $6.0. The company’s market cap is $376.4 million.

Baltic Trading Limit (NASDAQ:BALT) last released its earnings data on Wednesday, May 7th. The company reported ($0.06) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.02) by $0.04. The company had revenue of $13.10 million for the quarter, compared to the consensus estimate of $6.00 million. During the same quarter in the prior year, the company posted ($0.23) earnings per share. The company’s quarterly revenue was up 118.3% 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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