Safe Bulkers (NYSE:SB) Sets New 1-Year High – Here’s What Happened

Safe Bulkers, Inc (NYSE:SB) shares reached a new 52-week high during trading on Monday . The company traded as high as $4.86 and last traded at $4.9220, with a volume of 60418 shares changing hands. The stock had previously closed at $4.78.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on SB shares. Weiss Ratings restated a “hold (c)” rating on shares of Safe Bulkers in a report on Wednesday, October 8th. Zacks Research raised shares of Safe Bulkers from a “strong sell” rating to a “hold” rating in a research note on Monday, September 29th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $4.47.

Safe Bulkers Price Performance

The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.60. The company has a market cap of $508.02 million, a price-to-earnings ratio of 11.55 and a beta of 1.23. The business has a 50-day moving average price of $4.47 and a 200 day moving average price of $4.09.

Hedge Funds Weigh In On Safe Bulkers

Several large investors have recently added to or reduced their stakes in SB. Regatta Capital Group LLC acquired a new stake in Safe Bulkers in the 2nd quarter valued at $36,000. Tower Research Capital LLC TRC grew its holdings in shares of 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 valued at $40,000 after acquiring an additional 4,692 shares in the last quarter. Cetera Investment Advisers acquired a new position in Safe Bulkers during the second quarter worth approximately $41,000. Evergreen Capital Management LLC bought a new stake in shares of Safe Bulkers during the second quarter worth approximately $46,000. Finally, Aigen Investment Management LP acquired a new stake in shares of Safe Bulkers during the 1st quarter worth $49,000. Institutional investors and hedge funds own 21.69% of the company’s stock.

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.