Safe Bulkers (NYSE:SB) Share Price Passes Above Two Hundred Day Moving Average – Should You Sell?

Safe Bulkers, Inc (NYSE:SB) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $5.87 and traded as high as $6.64. Safe Bulkers shares last traded at $6.6240, with a volume of 1,260,682 shares.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded Safe Bulkers from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $6.00.

Safe Bulkers Trading Up 6.0%

The firm has a market capitalization of $677.37 million, a price-to-earnings ratio of 22.08 and a beta of 0.85. The company has a current ratio of 2.90, a quick ratio of 2.63 and a debt-to-equity ratio of 0.60. The company has a fifty day moving average price of $6.63 and a 200-day moving average price of $5.87.

Institutional Investors Weigh In On Safe Bulkers

Several institutional investors have recently made changes to their positions in the company. Bank of America Corp DE lifted its holdings in shares of Safe Bulkers by 90.4% during the 1st quarter. Bank of America Corp DE now owns 452,122 shares of the shipping company’s stock valued at $2,862,000 after buying an additional 214,652 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of Safe Bulkers by 2.8% during the 1st quarter. Empowered Funds LLC now owns 663,731 shares of the shipping company’s stock valued at $4,201,000 after buying an additional 17,897 shares during the last quarter. Quantinno Capital Management LP lifted its holdings in shares of Safe Bulkers by 14.7% during the 1st quarter. Quantinno Capital Management LP now owns 43,114 shares of the shipping company’s stock valued at $273,000 after buying an additional 5,531 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Safe Bulkers during the 1st quarter valued at about $1,625,000. Finally, Renaissance Technologies LLC lifted its holdings in shares of Safe Bulkers by 2.0% during the 1st quarter. Renaissance Technologies LLC now owns 3,557,921 shares of the shipping company’s stock valued at $22,522,000 after buying an additional 68,155 shares during the last quarter. 21.69% of the stock is currently owned by institutional investors and hedge funds.

Safe Bulkers Company Profile

Safe Bulkers Inc (NYSE: SB) is a dry bulk shipping company engaged in the ocean transport of commodities such as iron ore, coal, grain, and fertilizers. The company operates a modern fleet of vessels, including Panamax, Supramax and Kamsarmax bulk carriers, designed to serve a variety of trade routes and cargo types. Safe Bulkers’ fleet is employed under both time charter and voyage charter arrangements, offering flexibility to respond to market demand and optimize vessel utilization.

Founded in 2008, Safe Bulkers began trading its shares on the New York Stock Exchange in the same year, establishing itself as a publicly listed provider of dry bulk transportation services.