StockNews.com Downgrades Safe Bulkers (NYSE:SB) to Hold

Safe Bulkers (NYSE:SB) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Monday.

SB has been the topic of a number of other research reports. Jefferies Financial Group restated a “buy” rating and set a $6.00 target price on shares of Safe Bulkers in a research report on Thursday, November 14th. DNB Markets upgraded Safe Bulkers from a “hold” rating to a “buy” rating and set a $4.20 price objective on the stock in a report on Monday.

Safe Bulkers Stock Down 0.4 %

SB opened at $3.46 on Monday. The business’s fifty day simple moving average is $3.66 and its 200 day simple moving average is $4.41. Safe Bulkers has a 52 week low of $3.31 and a 52 week high of $6.33. The firm has a market cap of $368.92 million, a P/E ratio of 3.84 and a beta of 0.93. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.52.

Institutional Trading of Safe Bulkers

Institutional investors have recently made changes to their positions in the stock. nVerses Capital LLC raised its holdings in Safe Bulkers by 269.0% in the third quarter. nVerses Capital LLC now owns 10,700 shares of the shipping company’s stock valued at $55,000 after buying an additional 7,800 shares during the period. Intech Investment Management LLC acquired a new stake in shares of Safe Bulkers in the third quarter worth $86,000. Ballentine Partners LLC purchased a new position in shares of Safe Bulkers in the 4th quarter valued at $89,000. Aigen Investment Management LP acquired a new position in shares of Safe Bulkers during the 3rd quarter valued at $90,000. Finally, SG Americas Securities LLC boosted its position in Safe Bulkers by 19.6% during the 4th quarter. SG Americas Securities LLC now owns 25,204 shares of the shipping company’s stock worth $90,000 after purchasing an additional 4,122 shares during the period. 21.69% of the stock is owned by hedge funds and other institutional investors.

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.