Why Is Safe Bulkers Trading Lower Today?
Shares of Safe Bulkers (SB) fell as the market continues to react to the shipping crisis triggered by the COVID-19 pandemic. The company provides marine dry bulk transportation services. However, the stock is still up by more than 100% year-to-date after a rollercoaster 2020, according to Yahoo Finance. Also, supply chains in the shipping industry are under immense pressure amid a dearth of containers, resulting in skyrocketing shipping costs. Recently, the company embarked on an accelerated deleveraging strategy. As part of the plan, the company voluntarily paid a $21.2 million debt as it seeks to maintain an energy-efficient fleet with low leverage. (See Safe Bulkers stock analysis on TipRanks)  Consensus among analysts is a Hold based on 1 Buy, 1 Hold, and 1 Sell. The average analyst Safe Bulkers price target of $4.83 implies 27.11% upside potential from current levels. SB scores 6 out of 10 on TipRanks Smart Score rating system, suggesting that the stock is likely to perform in line with market averages. Related News:  Humana to Acquire Onehome to Expand Home-Based Care Business  Bentley Systems Snaps Up SPIDA to Accelerate its Grid Resilience  Philips Recalls Sleep Devices over Health Risks; Shares Fall 4%