A Reversal for Scorpio Bulkers Inc (NYSE:SALT) Is Not Near. The Stock Has Rise in Shorts

Scorpio Bulkers Inc. (NYSE:SALT) Logo

The stock of Scorpio Bulkers Inc (NYSE:SALT) registered an increase of 5.83% in short interest. SALT’s total short interest was 2.95M shares in May as published by FINRA. Its up 5.83% from 2.78M shares, reported previously. With 426,100 shares average volume, it will take short sellers 7 days to cover their SALT’s short positions. The short interest to Scorpio Bulkers Inc’s float is 7.79%.

The stock increased 0.49% or $0.03 during the last trading session, reaching $5.12. About 342,365 shares traded. Scorpio Bulkers Inc. (NYSE:SALT) has declined 45.28% since May 8, 2018 and is downtrending. It has underperformed by 49.65% the S&P500.

Scorpio Bulkers Inc., a shipping company, owns and operates dry bulk carriers. The company has market cap of $345.75 million. The Company’s vessels transport a range of bulk commodities, including ores, coal, grains, and fertilizers along worldwide shipping routes. It currently has negative earnings. As of December 31, 2017, the firm owned or finance leased 55 vessels comprising 18 Kamsarmax vessels and 37 Ultramax vessels.

Scorpio Bulkers Inc. (NYSE:SALT) Ratings Coverage

Among 3 analysts covering Scorpio Bulkers (NYSE:SALT), 2 have Buy rating, 0 Sell and 1 Hold. Therefore 67% are positive. Scorpio Bulkers had 4 analyst reports since November 16, 2018 according to SRatingsIntel. The stock of Scorpio Bulkers Inc. (NYSE:SALT) has “Buy” rating given on Friday, February 22 by Drewry Financial.

More notable recent Scorpio Bulkers Inc. (NYSE:SALT) news were published by: Seekingalpha.com which released: “Scorpio Bulkers rally seen extending – Seeking Alpha” on April 29, 2019, also Globenewswire.com with their article: “Salt Life Named Ron Jon Surf Shop’s 2018 Lifestyle/Surf Vendor of the Year – GlobeNewswire” published on April 10, 2019, Seekingalpha.com published: “Elastic, MongoDB gain on Google partnership – Seeking Alpha” on April 09, 2019. More interesting news about Scorpio Bulkers Inc. (NYSE:SALT) were released by: Globenewswire.com and their article: “Delta Apparel Reports Fiscal 2019 Second Quarter and Six-Month Results – GlobeNewswire” published on May 06, 2019 as well as Gurufocus.com‘s news article titled: “US Market Indexes Close Higher Monday With Key Inflation Report – GuruFocus.com” with publication date: April 29, 2019.

Scorpio Bulkers Inc. (NYSE:SALT) Ratings Chart

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