Star Bulk Carriers (NASDAQ:SBLK) Raised to Buy at StockNews.com

Star Bulk Carriers (NASDAQ:SBLK) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a report issued on Friday.

Other analysts have also issued research reports about the stock. Jefferies Financial Group reiterated a “buy” rating and set a $28.00 target price on shares of Star Bulk Carriers in a research note on Wednesday, November 20th. Stifel Nicolaus lowered shares of Star Bulk Carriers from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $30.00 to $21.00 in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft started coverage on shares of Star Bulk Carriers in a report on Wednesday, September 4th. They issued a “buy” rating and a $26.00 target price on the stock. Finally, DNB Markets raised Star Bulk Carriers from a “sell” rating to a “hold” rating and upped their target price for the company from $19.30 to $20.20 in a report on Thursday, November 21st. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $23.80.

Star Bulk Carriers Stock Up 0.5 %

NASDAQ SBLK traded up $0.08 on Friday, hitting $14.80. 1,905,339 shares of the stock traded hands, compared to its average volume of 1,675,061. The company has a market capitalization of $1.24 billion, a P/E ratio of 5.00, a price-to-earnings-growth ratio of 3.95 and a beta of 0.96. The stock has a 50-day moving average of $18.32 and a 200 day moving average of $21.20. The company has a current ratio of 1.69, a quick ratio of 1.50 and a debt-to-equity ratio of 0.44. Star Bulk Carriers has a twelve month low of $14.59 and a twelve month high of $27.47.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Nisa Investment Advisors LLC acquired a new position in shares of Star Bulk Carriers during the second quarter worth approximately $32,000. Blue Trust Inc. boosted its position in Star Bulk Carriers by 190.5% during the 3rd quarter. Blue Trust Inc. now owns 2,025 shares of the shipping company’s stock worth $49,000 after acquiring an additional 1,328 shares during the period. Allspring Global Investments Holdings LLC bought a new position in shares of Star Bulk Carriers in the second quarter worth $54,000. Quarry LP increased its holdings in shares of Star Bulk Carriers by 39.8% during the third quarter. Quarry LP now owns 2,365 shares of the shipping company’s stock valued at $56,000 after purchasing an additional 673 shares during the period. Finally, Sunbelt Securities Inc. acquired a new position in shares of Star Bulk Carriers during the third quarter valued at $57,000. Institutional investors own 33.91% of the company’s stock.

Star Bulk Carriers Company Profile

Star Bulk Carriers Corp., a shipping company, engages in the ocean transportation of dry bulk cargoes worldwide. Its vessels transport a range of bulk commodities, including iron ores, minerals and grains, bauxite, fertilizers, and steel products. As of December 31, 2023, the company owned a fleet of 116 dry bulk vessels with combined carrying capacity of 13.1 million deadweight tonnage (dwt) consisting of Newcastlemax, Capesize, Post Panamax, Kamsarmax, Panamax, Ultramax, and Supramax vessels with carrying capacities between 53,489 dwt and 209,537 dwt.