Safe Bulkers (NYSE:SB) Lowered to Hold Rating by Wall Street Zen

Safe Bulkers (NYSE:SB) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

Safe Bulkers Price Performance

Shares of Safe Bulkers stock opened at $6.89 on Friday. The business has a 50 day simple moving average of $6.69 and a two-hundred day simple moving average of $5.97. Safe Bulkers has a 12 month low of $3.56 and a 12 month high of $7.38. The stock has a market capitalization of $704.06 million, a P/E ratio of 22.95 and a beta of 0.85. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.90 and a quick ratio of 2.63.

Hedge Funds Weigh In On Safe Bulkers

Hedge funds have recently made changes to their positions in the company. PNC Financial Services Group Inc. raised its holdings in shares of Safe Bulkers by 77.7% during the first quarter. PNC Financial Services Group Inc. now owns 4,917 shares of the shipping company’s stock valued at $31,000 after acquiring an additional 2,150 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Safe Bulkers by 73.4% during the second quarter. Tower Research Capital LLC TRC now owns 11,088 shares of the shipping company’s stock valued at $40,000 after acquiring an additional 4,692 shares during the last quarter. Cetera Investment Advisers acquired a new position in shares of Safe Bulkers during the second quarter valued at approximately $41,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of Safe Bulkers during the third quarter valued at approximately $46,000. Finally, Evergreen Capital Management LLC acquired a new position in shares of Safe Bulkers during the second quarter valued at approximately $46,000. Institutional investors and hedge funds own 21.69% of the company’s stock.

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.