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BTIG Thinks Eneti’s Stock is Going to Recover

In a report issued on July 8, Gregory Lewis from BTIG maintained a Buy rating on Eneti (NETIResearch Report), with a price target of $15.00. The company’s shares closed last Monday at $5.22, close to its 52-week low of $4.81.

According to TipRanks.com, Lewis has currently 0 stars on a ranking scale of 0-5 stars, with an average return of -7.9% and a 38.3% success rate. Lewis covers the Industrial Goods sector, focusing on stocks such as Eagle Bulk Shipping, Chart Industries, and Scorpio Tankers.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Eneti with a $11.00 average price target.

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Based on Eneti’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $22.44 million and net profit of $4.15 million. In comparison, last year the company earned revenue of $59.83 million and had a net profit of $41.86 million.

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Scorpio Bulkers, Inc. engages in the provision of ocean transportation of dry bulk cargoes worldwide through the ownership and operation of dry bulk carrier vessels. It operates through the Ultramax Operations and Kamsarmax Operations segments. The Ultramax Operations segment includes vessels ranging from approximately 60,200 dwt to 64,000 dwt. The Kamsarmax Operations segment deals with essels ranging from approximately 82,000 dwt to 84,000 dwt. The company was founded by Emanuele A. Lauro and Robert L. Bugbee on March 20, 2013 and is headquartered in Monaco.

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