Scorpio Bulkers Inc (NYSE:SALT) Stock Through Resistance -- Technicals Hit Extreme Strength

(NYSE:SALT) have been assigned a consensus recommendation of "Buy" from the seven analysts that are now covering the stock. $8.05's average target is 1.00% above currents $7.97 stock price. A reading over 70 would indicate that the stock is overbought, and possibly overvalued. Scorpio Bulkers had 25 analyst reports since July 29, 2015 according to SRatingsIntel. As of February 28, 2017, the firm owned 47 vessels comprising 19 Kamsarmax vessels and 28 Ultramax vessels. It operates shipyards in Japan, China and Romania. Jefferies maintained Scorpio Bulkers Inc.

A number of equities research analysts recently weighed in on the stock. Scorpio Bulkers Inc (SALT) now has a 14-day Commodity Channel Index (CCI) of 23.05. Deutsche Bank AG upgraded shares of Scorpio Bulkers from a "hold" rating to a "buy" rating and lifted their price objective for the company from $4.50 to $7.25 in a research note on Tuesday, January 3rd. The rating was downgraded by Deutsche Bank to "Hold" on Wednesday, November 18. The rating was maintained by Stifel Nicolaus with "Hold" on Tuesday, July 18. Finally, ValuEngine cut shares of Scorpio Bulkers from a "hold" rating to a "sell" rating in a research note on Thursday, September 7th. The analyst recommendations from a month ago are 0 Buy, 5 Strong Buy, 0 Sell, 0 Hold and 2.

Scorpio Bulkers (NYSE:SALT) opened at $7.75 on Wednesday.

Rex Burkhead, Mike Gillislee likely out for Patriots
Lewis has carried the load of late, as in the final two games of the year he had 50 carries for 222 yards and two touchdowns. Without his dual-threat ability as a rusher and pass-catcher, the Patriots' offense sputtered at times in December.

Scorpio Bulkers (NYSE:SALT) traded down $0.20 during trading hours on Monday, hitting $7.40. Scorpio Bulkers has a 12-month low of $1.79 and a 12-month high of $8.08. Jefferies Group began coverage on Scorpio Bulkers in a research report on Monday, December 18th. The shipping company reported ($0.15) EPS for the quarter, missing the Thomson Reuters' consensus estimate of ($0.14) by ($0.01). The company earned $26.85 million during the quarter, compared to the consensus estimate of $28.41 million. Scorpio Bulkers had a negative return on equity of 4.69% and a negative net margin of 27.65%. During the same period in the previous year, the firm posted ($0.60) earnings per share. equities analysts anticipate that Scorpio Bulkers will post -0.58 earnings per share for the current fiscal year. The number of shares now owned by investors are 84.92 mln. The firm's stock has a market capitalization of $658.13 mln. Zacks Investment Management purchased a new position in Scorpio Bulkers during the third quarter worth about $159,000. The NYSE listed company saw a recent bid of $57.62 and 864292 shares have traded hands in the session. Marshall Wace North America L.P. purchased a new stake in Scorpio Bulkers during the second quarter valued at approximately $245,000. Royce & Associates LP lifted its holdings in shares of Scorpio Bulkers by 6.0% during the 2nd quarter.

The stock decreased 0.33% or $0.14 during the last trading session, reaching $41.71. Finally, Airain ltd acquired a new position in shares of Scorpio Bulkers during the 2nd quarter valued at $589,000. Institutional investors and hedge funds own 40.31% of the company's stock.

ILLEGAL ACTIVITY WARNING: This story was first reported by TrueBlueTribune and is owned by of TrueBlueTribune. The fund invests in the public equity markets of the United States. (NYSE:SALT) earned "Buy" rating by Seaport Global on Tuesday, August 2. The Company owns and operates newbuilding drybulk carriers with fuel-efficient specifications and carrying capacities of greater than 30,000 deadweight tons (dwt). It seeks to invest in the stocks of companies operating across diversified sectors.

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