Safe Bulkers (NYSE:SB) Stock Crosses Above 200-Day Moving Average – Time to Sell?

Safe Bulkers, Inc (NYSE:SB) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $5.97 and traded as high as $6.82. Safe Bulkers shares last traded at $6.7350, with a volume of 574,173 shares.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of Safe Bulkers from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Safe Bulkers presently has an average rating of “Hold” and a consensus price target of $6.00.

Safe Bulkers Stock Performance

The company’s fifty day moving average is $6.68 and its 200 day moving average is $5.97. The company has a market capitalization of $688.71 million, a P/E ratio of 22.45 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.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. PNC Financial Services Group Inc. lifted its stake in Safe Bulkers by 77.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,917 shares of the shipping company’s stock worth $31,000 after purchasing an additional 2,150 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in Safe Bulkers by 73.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 11,088 shares of the shipping company’s stock worth $40,000 after purchasing an additional 4,692 shares in the last quarter. Cetera Investment Advisers purchased a new stake in Safe Bulkers in the 2nd quarter worth approximately $41,000. Susquehanna Fundamental Investments LLC purchased a new stake in Safe Bulkers in the 3rd quarter worth approximately $46,000. Finally, Evergreen Capital Management LLC purchased a new stake in Safe Bulkers in the 2nd quarter worth approximately $46,000. 21.69% of the stock is owned by institutional investors.

About Safe Bulkers

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.