Star Bulk Carriers (NASDAQ:SBLK) Downgraded to Hold Rating by StockNews.com

StockNews.com cut shares of Star Bulk Carriers (NASDAQ:SBLK) from a buy rating to a hold rating in a report published on Tuesday morning.

Other research analysts have also issued reports about the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Star Bulk Carriers in a report on Wednesday, September 4th. They issued a “buy” rating and a $26.00 price target for the company. DNB Markets downgraded shares of Star Bulk Carriers from a “hold” rating to a “sell” rating in a research report on Friday, October 11th. Finally, Stifel Nicolaus downgraded shares of Star Bulk Carriers from a “buy” rating to a “hold” rating and cut their price objective for the company from $30.00 to $21.00 in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $25.67.

Star Bulk Carriers Trading Up 0.5 %

NASDAQ SBLK opened at $20.29 on Tuesday. Star Bulk Carriers has a one year low of $18.63 and a one year high of $27.47. The company has a 50-day simple moving average of $20.83 and a 200-day simple moving average of $22.78. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.34 and a current ratio of 1.51. The firm has a market capitalization of $1.70 billion, a PE ratio of 7.46 and a beta of 1.00.

Institutional Trading of Star Bulk Carriers

A number of hedge funds and other institutional investors have recently made changes to their positions in SBLK. Nisa Investment Advisors LLC bought a new stake in shares of Star Bulk Carriers during the 2nd quarter worth about $32,000. Blue Trust Inc. raised its position in shares of 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 buying an additional 1,328 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Star Bulk Carriers during the 2nd quarter worth about $54,000. Quarry LP raised its position in shares of Star Bulk Carriers by 39.8% during the 3rd quarter. Quarry LP now owns 2,365 shares of the shipping company’s stock worth $56,000 after buying an additional 673 shares in the last quarter. Finally, Point72 DIFC Ltd bought a new stake in shares of Star Bulk Carriers during the 2nd quarter worth about $72,000. 33.91% of the stock is currently owned by institutional investors.

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.