Star Bulk Carriers (NASDAQ:SBLK) Stock Rating Upgraded by StockNews.com

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

Several other brokerages also recently issued reports on SBLK. Deutsche Bank Aktiengesellschaft initiated coverage on 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 upgraded Star Bulk Carriers from a “sell” rating to a “hold” rating and increased their target price for the company from $19.30 to $20.20 in a research note on Thursday, November 21st. Jefferies Financial Group reissued a “buy” rating and set a $28.00 price target on shares of Star Bulk Carriers in a research report on Wednesday, November 20th. Finally, Stifel Nicolaus downgraded shares of Star Bulk Carriers from a “buy” rating to a “hold” rating and lowered their price objective for the company 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 issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $23.80.

Star Bulk Carriers Trading Up 1.1 %

Shares of SBLK stock opened at $17.22 on Wednesday. The company has a quick ratio of 1.50, a current ratio of 1.69 and a debt-to-equity ratio of 0.44. Star Bulk Carriers has a fifty-two week low of $16.87 and a fifty-two week high of $27.47. The firm’s 50 day moving average price is $20.17 and its two-hundred day moving average price is $22.14. The stock has a market cap of $1.45 billion, a price-to-earnings ratio of 5.82, a price-to-earnings-growth ratio of 4.44 and a beta of 0.96.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Nisa Investment Advisors LLC purchased a new stake in Star Bulk Carriers during the 2nd quarter worth approximately $32,000. Blue Trust Inc. grew its position in shares of Star Bulk Carriers by 190.5% during the third 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 acquired a new stake in shares of Star Bulk Carriers during the second quarter worth approximately $54,000. Quarry LP increased its stake in shares of Star Bulk Carriers by 39.8% in the third quarter. Quarry LP now owns 2,365 shares of the shipping company’s stock worth $56,000 after buying an additional 673 shares during the last quarter. Finally, Sunbelt Securities Inc. acquired a new stake in Star Bulk Carriers in the third quarter valued at $57,000. Hedge funds and other 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.