DNB Markets Initiates Coverage on Eneti (NASDAQ:NETI)

Analysts at DNB Markets started coverage on shares of Eneti (NASDAQ:NETIGet Rating) in a report released on Monday, The Fly reports. The firm set a “buy” rating on the stock.

Shares of NASDAQ:NETI opened at $6.72 on Monday. Eneti has a 1-year low of $4.81 and a 1-year high of $20.08. The firm has a market capitalization of $267.06 million, a PE ratio of 28.00 and a beta of 1.16. The business’s 50 day moving average is $6.45 and its 200-day moving average is $6.74.

Eneti (NASDAQ:NETIGet Rating) last announced its quarterly earnings data on Thursday, May 12th. The company reported ($0.37) earnings per share for the quarter, topping the consensus estimate of ($0.45) by $0.08. Eneti had a negative return on equity of 7.53% and a negative net margin of 10.80%. The company had revenue of $22.44 million for the quarter, compared to analyst estimates of $19.21 million. As a group, equities research analysts anticipate that Eneti will post 0.22 EPS for the current fiscal year.

Hedge funds have recently made changes to their positions in the stock. Toroso Investments LLC bought a new position in Eneti in the 1st quarter valued at $67,000. Freemont Management S.A. bought a new position in Eneti in the 1st quarter valued at $72,000. GSA Capital Partners LLP bought a new position in Eneti in the 1st quarter valued at $76,000. Bank of America Corp DE raised its position in Eneti by 8,059.7% in the 4th quarter. Bank of America Corp DE now owns 10,934 shares of the company’s stock valued at $85,000 after purchasing an additional 10,800 shares during the last quarter. Finally, Virtu Financial LLC bought a new position in Eneti in the 1st quarter valued at $94,000.

About Eneti (Get Rating)

Eneti Inc engages in the offshore wind and marine-based renewable energy businesses. It owns and operates five wind turbine installation vessels. The company was formerly known as Scorpio Bulkers Inc and changed its name to Eneti Inc in February 2021. Eneti Inc was incorporated in 2013 and is based in Monaco.

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