Maxim Group started coverage on shares of Baltic Trading Limit (NASDAQ:BALT) in a research note released on Thursday morning, TheFlyOnTheWall.com reports. The firm issued a buy rating and a $7.00 target price on the stock.
In other Baltic Trading Limit news, Director Harry Perrin acquired 15,000 shares of Baltic Trading Limit stock on the open market in a transaction dated Friday, November 15th. The stock was purchased at an average price of $4.97 per share, with a total value of $74,550.00. Following the purchase, the director now directly owns 41,936 shares in the company, valued at approximately $208,422. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Baltic Trading Limit (NASDAQ:BALT) traded down 0.21% on Thursday, hitting $4.65. The stock had a trading volume of 106,912 shares. Baltic Trading Limit has a 52-week low of $2.70 and a 52-week high of $5.71. The stock has a 50-day moving average of $4.9 and a 200-day moving average of $4.30. The company’s market cap is $200.5 million.
Baltic Trading Limit (NASDAQ:BALT) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.08) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.12) by $0.04. The company had revenue of $9.10 million for the quarter, compared to the consensus estimate of $7.47 million. During the same quarter in the prior year, the company posted ($0.22) earnings per share. The company’s quarterly revenue was up 44.4% on a year-over-year basis.
The company also recently announced a quarterly dividend, which is scheduled for Friday, November 22nd. Investors of record on Monday, November 18th will be paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 1.72%. The ex-dividend date is Thursday, November 14th. This is an increase from Baltic Trading Limit’s previous quarterly dividend of $0.01.
A number of other analysts have also recently weighed in on BALT. Analysts at Imperial Capital initiated coverage on shares of Baltic Trading Limit in a research note to investors on Thursday, October 24th. They set an outperform rating and a $7.00 price target on the stock. They noted that the move was a valuation call. Separately, analysts at Jefferies Group reiterated a buy rating on shares of Baltic Trading Limit in a research note to investors on Tuesday, October 22nd. They now have a $8.00 price target on the stock. Finally, analysts at Sidoti upgraded shares of Baltic Trading Limit from a neutral rating to a buy rating in a research note to investors on Friday, September 13th. Five research analysts have rated the stock with a buy rating, The stock currently has an average rating of Buy and a consensus target price of $7.25.
Baltic Trading Limited is engaged in owning drybulk vessels. The Company intends to operate its vessels on voyage charters in the spot market; on trip charters, which are spot market-related time charters; or in vessel pools trading in the spot market.
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