Scorpio Bulkers’ Lock-Up Period Will End Tomorrow (NASDAQ:SALT)
Scorpio Bulkers’ (NASDAQ:SALT) lock-up period will end on Tuesday, June 10th. Scorpio Bulkers had issued 31,300,000 shares in its public offering on December 12th, AnalystRatingsNetwork reports. The total size of the offering was $305,175,000 based on an initial share price of $9.75. After the expiration of Scorpio Bulkers’ lock-up period, restrictions preventing major shareholders and company insiders from selling shares in the company will be lifted.
A number of research firms have recently commented on SALT. Analysts at MLV & Co
initiated coverage on shares of Scorpio Bulkers in a research note on Wednesday, May 28th. They set a “buy” rating and a $11.00 price target on the stock. Analysts at Deutsche Bank reiterated a “buy” rating on shares of Scorpio Bulkers in a research note on Tuesday, April 15th. They now have a $18.00 price target on the stock. Six investment analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and a consensus target price of $13.57.
Shares of Scorpio Bulkers (NASDAQ:SALT) traded up 0.11% during mid-day trading on Monday, hitting $9.31. 25,219 shares of the company’s stock traded hands. Scorpio Bulkers has a 1-year low of $8.30 and a 1-year high of $10.73. The stock’s 50-day moving average is $8.92 and its 200-day moving average is $9.51. The company’s market cap is $1.235 billion.
Scorpio Bulkers (NASDAQ:SALT) last issued its quarterly earnings data on Wednesday, April 30th. The company reported ($0.08) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.02) by $0.06. The company had revenue of $5.47 million for the quarter, compared to the consensus estimate of $4.41 million. Analysts expect that Scorpio Bulkers will post $-0.23 EPS for the current fiscal year.
Scorpio Bulkers Inc is a company engaged in marine transportation, based in the Marshall Islands. It is a provider of transportation services of dry bulk commodities.
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