NEW YORK (TheStreet) -- Shares of Scorpio Bulkers (SALT) - Get Report are skyrocketing 34.32% to $3.17 on heavy trading volume late Monday afternoon following the release of its 2015 fourth quarter results.
Before today's market open, the Monaco-based dry bulk carrier posted an adjusted loss of 80 cents per diluted share, narrower than the loss of 87 cents per share that analysts were expecting.
During the same quarter last year, the marine transportation company posted an adjusted loss of $1.31 per share.
Revenue for the period was $21.7 million, which did not meet Wall Street's estimates of $30.2 million.
About 2.37 million of the company's shares were traded by this afternoon compared to its average volume of 562,715 shares per day.
Separately, TheStreet Ratings Team has a "Sell" rating with a score of E+ on the stock.
This is based on a variety of negative investment measures, which should drive this stock to significantly underperform the majority of stocks rated.
The company's weaknesses can be seen in multiple areas, such as its disappointing return on equity and generally disappointing historical performance in the stock itself.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: SALT