Star Bulk Carriers (NASDAQ:SBLK) Cut to Hold at StockNews.com

Star Bulk Carriers (NASDAQ:SBLK) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Tuesday.

A number of other research firms have also recently issued reports on SBLK. DNB Markets cut Star Bulk Carriers from a “hold” rating to a “sell” rating in a report on Friday, October 11th. Stifel Nicolaus cut Star Bulk Carriers from a “buy” rating to a “hold” rating and dropped their price objective for the company from $30.00 to $21.00 in a report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft began coverage on Star Bulk Carriers in a report on Wednesday, September 4th. They issued a “buy” rating and a $26.00 target price for the company. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $25.67.

Star Bulk Carriers Price Performance

Shares of Star Bulk Carriers stock opened at $20.08 on Tuesday. The stock has a market cap of $1.69 billion, a price-to-earnings ratio of 7.32 and a beta of 1.00. 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 stock has a 50 day moving average price of $20.84 and a 200-day moving average price of $22.85. Star Bulk Carriers has a one year low of $17.92 and a one year high of $27.47.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in SBLK. FMR LLC increased its position in Star Bulk Carriers by 229.6% during the 3rd quarter. FMR LLC now owns 404,196 shares of the shipping company’s stock valued at $9,575,000 after buying an additional 281,552 shares in the last quarter. Larson Financial Group LLC grew its stake in Star Bulk Carriers by 696.9% during the 3rd quarter. Larson Financial Group LLC now owns 6,845 shares of the shipping company’s stock valued at $162,000 after purchasing an additional 5,986 shares during the last quarter. Navellier & Associates Inc. purchased a new stake in Star Bulk Carriers during the 3rd quarter valued at about $892,000. Moors & Cabot Inc. grew its stake in Star Bulk Carriers by 142.1% during the 3rd quarter. Moors & Cabot Inc. now owns 35,396 shares of the shipping company’s stock valued at $839,000 after purchasing an additional 20,775 shares during the last quarter. Finally, Avior Wealth Management LLC grew its stake in Star Bulk Carriers by 26.4% during the 3rd quarter. Avior Wealth Management LLC now owns 6,641 shares of the shipping company’s stock valued at $157,000 after purchasing an additional 1,385 shares during the last quarter. 33.91% of the stock is owned by institutional investors.

About Star Bulk Carriers

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.