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Canaccord Genuity started coverage on shares of Baltic Trading Limit (NASDAQ:BALT) in a research note issued on Tuesday. The firm set a “hold” rating and a $7.00 price target on the stock. Canaccord Genuity’s target price indicates a potential upside of 5.42% from the company’s current price.

Several other analysts have also recently commented on the stock. Analysts at MLV & Co
initiated coverage on shares of Baltic Trading Limit in a research note on Wednesday, May 28th. They set a “buy” rating on the stock. 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. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $7.52.

Shares of Baltic Trading Limit (NASDAQ:BALT) traded up 4.08% on Tuesday, hitting $6.64. The stock had a trading volume of 376,043 shares. Baltic Trading Limit has a 1-year low of $3.41 and a 1-year high of $7.94. The stock has a 50-day moving average of $6.31 and a 200-day moving average of $6.1. The company’s market cap is $373.6 million.

Baltic Trading Limit (NASDAQ:BALT) last issued its quarterly 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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