Safe Bulkers (NYSE:SB) Stock Passes Above 200-Day Moving Average – Here’s Why

Safe Bulkers, Inc (NYSE:SB) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $4.15 and traded as high as $4.90. Safe Bulkers shares last traded at $4.7750, with a volume of 382,161 shares traded.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Safe Bulkers in a report on Wednesday, October 8th. Zacks Research upgraded Safe Bulkers from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $4.47.

Safe Bulkers Stock Performance

The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.60. The stock has a fifty day moving average price of $4.53 and a two-hundred day moving average price of $4.15. The company has a market capitalization of $488.58 million, a price-to-earnings ratio of 11.10 and a beta of 1.23.

Institutional Investors Weigh In On Safe Bulkers

Several hedge funds have recently modified their holdings of the company. Regatta Capital Group LLC acquired a new position in shares of Safe Bulkers in the second quarter valued at approximately $36,000. Tower Research Capital LLC TRC grew 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 acquiring an additional 4,692 shares during the period. Cetera Investment Advisers purchased a new stake in Safe Bulkers in the 2nd quarter worth approximately $41,000. Susquehanna Fundamental Investments LLC acquired a new position in Safe Bulkers in the 3rd quarter valued at $46,000. Finally, Evergreen Capital Management LLC purchased a new position in shares of Safe Bulkers during the 2nd quarter worth $46,000. 21.69% of the stock is owned by institutional investors and hedge funds.

Safe Bulkers Company Profile

Safe Bulkers, Inc, together with its subsidiaries, provides marine drybulk transportation services. It owns and operates drybulk vessels for transporting bulk cargoes primarily coal, grain, and iron ore. The company has a fleet of 47 drybulk vessels having an aggregate carrying capacity of 4,719,600 deadweight tons.