Maxim Group Thinks Sino-Global Shipping America’s Stock is Going to Recover
In a report released today, James Jang from Maxim Group reiterated a Buy rating on Sino-Global Shipping America (NASDAQ: SINO), with a price target of $1.75. The company’s shares closed yesterday at $1.09, close to its 52-week low of $1.04.
“Sino-Global (SINO) reported F2018 results with its core growth segment, the freight logistics business, increasing revenue by 228% y/y to $15.8M. Raising forward estimates as we expect SINO to continue to win complementary contracts through its new online freight matching system, which should allow for further revenue and margin expansion. SINO continues to expand its customer base and has entered into shipping value-added raw materials (coal, sulfur, wood products) on containers to China.”
According to TipRanks.com, Jang is a 4-star analyst with an average return of 16.0% and a 44.8% success rate. Jang covers the Services sector, focusing on stocks such as Dynagas LNG Partners LP, Nordic American Tanker, and Eagle Bulk Shipping.
Currently, the analyst consensus on Sino-Global Shipping America is a Moderate Buy with an average price target of $1.75.
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The company has a one-year high of $3.40 and a one-year low of $1.04. Currently, Sino-Global Shipping America has an average volume of 56.86K.
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Sino-Global Shipping America Ltd. engages in the provision of non-asset based global shipping and freight logistics integrated solution. It operates through the following segments: Inland Transportation Management Services; Freight Logistics Services; Container Trucking Services; and Bulk Cargo Container Services.