Safe Bulkers (NYSE:SB) Stock Crosses Below Two Hundred Day Moving Average – Here’s What Happened

Safe Bulkers, Inc (NYSE:SB) shares passed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $7.10 and traded as low as $7.02. Safe Bulkers shares last traded at $7.0350, with a volume of 1,003,432 shares traded.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered Safe Bulkers from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 1st. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $6.00.

Safe Bulkers Stock Down 4.5%

The firm has a fifty day moving average price of $8.37 and a 200 day moving average price of $7.10. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.39. The company has a market cap of $716.40 million, a P/E ratio of 9.02 and a beta of 1.09.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ethic Inc. grew its holdings in Safe Bulkers by 2.6% during the 3rd quarter. Ethic Inc. now owns 53,372 shares of the shipping company’s stock worth $456,000 after acquiring an additional 1,365 shares during the last quarter. PNC Financial Services Group Inc. increased its position 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 valued at $31,000 after acquiring an additional 2,150 shares in the last quarter. DGS Capital Management LLC increased its position in Safe Bulkers by 17.3% in the 1st quarter. DGS Capital Management LLC now owns 20,918 shares of the shipping company’s stock valued at $132,000 after acquiring an additional 3,079 shares in the last quarter. Signaturefd LLC increased its position in Safe Bulkers by 216.8% in the 3rd quarter. Signaturefd LLC now owns 4,736 shares of the shipping company’s stock valued at $40,000 after acquiring an additional 3,241 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in Safe Bulkers in the 3rd quarter valued at about $45,000. Institutional investors and hedge funds own 21.69% of the company’s stock.

Safe Bulkers Company Profile

Safe Bulkers, Inc (NYSE: SB) is a marine transportation company that owns and operates dry bulk vessels. Its fleet transports major and minor bulk commodities, including iron ore, coal, grain, and other raw materials used in global industrial and agricultural supply chains.

The company operates a range of dry bulk vessel classes, including Panamax, Kamsarmax, Ultramax, Supramax, Handysize, and Capesize ships. Safe Bulkers provides transportation services to commodity producers, traders, and other commercial customers through international shipping routes.

Safe Bulkers was founded in 2007 and is incorporated in the Marshall Islands, with its principal executive office in Monaco.