Shares of Safe Bulkers, Inc (NYSE:SB) were up 8% on Monday . The company traded as high as $3.51 and last traded at $3.50. Approximately 660,351 shares were traded during trading, an increase of 10% from the average daily volume of 600,742 shares. The stock had previously closed at $3.24.

SB has been the topic of several analyst reports. Zacks Investment Research cut Safe Bulkers from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. TheStreet upgraded Safe Bulkers from a “d+” rating to a “c-” rating in a research report on Tuesday, June 13th. BidaskClub cut Safe Bulkers from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Jefferies Group LLC restated a “hold” rating and issued a $2.50 target price on shares of Safe Bulkers in a research report on Tuesday, July 4th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $2.25 target price on shares of Safe Bulkers in a research report on Wednesday, July 19th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Safe Bulkers has a consensus rating of “Hold” and an average price target of $3.05.

The firm’s market cap is $333.48 million. The company’s 50 day moving average is $2.78 and its 200-day moving average is $2.27.

Safe Bulkers (NYSE:SB) last announced its earnings results on Wednesday, July 26th. The shipping company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.05) by $0.02. The business had revenue of $35.01 million during the quarter, compared to analyst estimates of $36.81 million. Safe Bulkers had a negative return on equity of 3.34% and a negative net margin of 26.74%. The firm’s revenue was up 33.6% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.15) earnings per share. On average, equities analysts anticipate that Safe Bulkers, Inc will post ($0.21) earnings per share for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Evermore Global Advisors LLC boosted its holdings in shares of Safe Bulkers by 35.1% in the 2nd quarter. Evermore Global Advisors LLC now owns 5,395,692 shares of the shipping company’s stock worth $12,356,000 after acquiring an additional 1,402,983 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Safe Bulkers by 335.2% in the 1st quarter. Renaissance Technologies LLC now owns 1,269,600 shares of the shipping company’s stock worth $2,793,000 after acquiring an additional 977,900 shares in the last quarter. Phoenix Investment Adviser LLC boosted its holdings in shares of Safe Bulkers by 3.9% in the 1st quarter. Phoenix Investment Adviser LLC now owns 573,992 shares of the shipping company’s stock worth $1,263,000 after acquiring an additional 21,775 shares in the last quarter. State Street Corp acquired a new position in shares of Safe Bulkers in the 2nd quarter worth approximately $1,088,000. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Safe Bulkers by 57.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 472,963 shares of the shipping company’s stock worth $1,041,000 after acquiring an additional 171,813 shares in the last quarter. 18.98% of the stock is currently owned by institutional investors and hedge funds.

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Safe Bulkers Company Profile

Safe Bulkers, Inc is a holding company. The Company’s principal business is the acquisition, ownership and operation of drybulk vessels. The Company’s vessels operate across the world, carrying drybulk cargo for the consumers of marine drybulk transportation services. The Company is an international provider of marine drybulk transportation services, transporting bulk cargoes, particularly coal, grain and iron ore, along shipping routes across the world.

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