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Analysts at MLV & Co
assumed coverage on shares of Safe Bulkers (NYSE:SB) in a research report issued to clients and investors on Wednesday. The firm set a “buy” rating on the stock.

Safe Bulkers (NYSE:SB) traded down 0.35% on Wednesday, hitting $8.55. 30,518 shares of the company’s stock traded hands. 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 $8.32 and its 200-day moving average is $9.11. The company has a market cap of $713.4 million and a P/E ratio of 8.16. Safe Bulkers also was the target of a large increase in short interest in the month of 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. Approximately 4.1% of the company’s shares are short sold. Based on an average daily volume of 476,077 shares, the days-to-cover ratio is presently 2.9 days.

Other equities research analysts have also recently issued reports about the stock. 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 analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $10.04.

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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