It is currently trading at $8.00 which is slightly above $7.51, the 50 day moving average and impressively higher than the 200 day moving average of $7.18. The 50 day moving average was up $0.49 and the 200 day average went up by +11.36%. 739K shares changed hands on Tuesday. Shares saw a steep decrease in trading volume of 0.87% under the normal average daily volume.
Traders are more bullish on the company lately if you take into consideration the fall in short interest. The firm had a fall in short interest from September 29, 2017 to October 13, 2017 of -8.72%. Short shares decreased from 2,961,695 to 2,703,479 over that period. With short interest at 2,703,479 and short average daily volume at 612,324, the short-interest ratio is 4.0 and the short interest percentage is 0.04% as of October 13.
These funds have shifted positions in (SALT). As of quarter end Cutler Group LP had disposed of a total of 3,324 shares trimming its holdings by 78.2%. The value of the investment in (SALT) went from $30,000 to $6,000 a change of 80.0% since the last quarter. As of the end of the quarter Horseman Capital Management Ltd had bought 250,000 shares growing its position 35.7%. The value of the total investment in Scorpio Bulkers Inc. increased from $4,970,000 to $6,698,000 increasing 34.8% for the reporting period.
As of the end of the quarter Nationwide Fund Advisors had sold a total of 8,955 shares trimming its stake by 19.8%. The value of the investment in SALT went from $321,000 to $256,000 a change of $65,000 quarter to quarter. Simplex Trading, LLC reduced its stake by shedding 72,711 shares a decrease of 67.3% as of 09/30/2017. Simplex Trading, LLC currently owns 35,401 shares with a value of $249,000. The value of the position overall is down by 67.5%.
As of the last earnings report the EPS was $-1.25 and is estimated to be $-0.58 for the current year with 71,804,000 shares now outstanding. Next quarter’s EPS is expected be $-0.06 with next year’s EPS projected to be $-0.15.
Scorpio Bulkers Inc., launched on March 20, 2013, is a shipping company. The Company owns and operates newbuilding drybulk carriers with fuel-efficient specifications and carrying capacities of greater than 30,000 deadweight tons (dwt). The Company operates through two segments: Kamsarmax and Ultramax. Its Kamsarmax segment includes vessels ranging from approximately 77,500 DWT to 98,700 DWT. Its Ultramax segment includes vessels ranging from approximately 60,200 DWT to 64,000 DWT. All of its owned vessels have carrying capacities of greater than 60,000 dwt. Its vessels transport a range of bulk commodities, including ores, coal, grains and fertilizers, along shipping routes, and are employed primarily in the spot market or in spot market-oriented pools of similarly sized vessels..