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Equities research analysts at MLV & Co
began coverage on shares of Baltic Trading Limit (NASDAQ:BALT) in a research note issued to investors on Wednesday. The firm set a “buy” rating on the stock.

Baltic Trading Limit (NASDAQ:BALT) traded down 2.48% on Wednesday, hitting $6.69. The stock had a trading volume of 358,150 shares. Baltic Trading Limit has a 52 week low of $3.41 and a 52 week high of $7.94. The stock has a 50-day moving average of $6.26 and a 200-day moving average of $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) earnings per share for the quarter, missing the analysts’ 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 last year, the company posted ($0.23) earnings per share. Baltic Trading Limit’s revenue was up 118.3% compared to the same quarter last year.

BALT has been the subject of a number of other recent research reports. 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. 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. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $7.62.

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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