Star Bulk Carriers (NASDAQ:SBLK) Upgraded by StockNews.com to “Buy” Rating

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

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

Star Bulk Carriers Price Performance

NASDAQ SBLK traded up $0.08 on Friday, reaching $14.80. 1,905,339 shares of the stock traded hands, compared to its average volume of 1,675,061. Star Bulk Carriers has a 12 month low of $14.59 and a 12 month high of $27.47. The company has a quick ratio of 1.50, a current ratio of 1.69 and a debt-to-equity ratio of 0.44. The firm’s fifty day simple moving average is $18.32 and its 200 day simple moving average is $21.20. The company has a market cap of $1.24 billion, a price-to-earnings ratio of 5.00, a P/E/G ratio of 3.95 and a beta of 0.96.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC lifted its position in shares of Star Bulk Carriers by 229.6% in the 3rd quarter. FMR LLC now owns 404,196 shares of the shipping company’s stock valued at $9,575,000 after acquiring an additional 281,552 shares in the last quarter. Barclays PLC lifted its holdings in shares of Star Bulk Carriers by 7,313.4% in the third quarter. Barclays PLC now owns 455,254 shares of the shipping company’s stock valued at $10,784,000 after purchasing an additional 449,113 shares in the last quarter. Autumn Glory Partners LLC acquired a new stake in shares of Star Bulk Carriers in the third quarter worth $649,000. Benson Investment Management Company Inc. purchased a new position in shares of Star Bulk Carriers during the third quarter valued at $5,259,000. Finally, Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group raised its position in Star Bulk Carriers by 34.1% during the second quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group now owns 295,000 shares of the shipping company’s stock valued at $7,192,000 after buying an additional 75,000 shares during the period. 33.91% of the stock is currently owned by institutional investors and hedge funds.

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.