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

Star Bulk Carriers (NASDAQ:SBLK) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Thursday.

SBLK has been the topic of several other reports. Stifel Nicolaus cut shares of Star Bulk Carriers from a “buy” rating to a “hold” rating and cut their price target for the company from $30.00 to $21.00 in a report on Wednesday, October 23rd. DNB Markets upgraded shares of Star Bulk Carriers from a “sell” rating to a “hold” rating and lifted their price objective for the company from $19.30 to $20.20 in a research note on Thursday, November 21st. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $28.00 target price on shares of Star Bulk Carriers in a research report on Wednesday, November 20th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Star Bulk Carriers presently has a consensus rating of “Hold” and an average target price of $23.80.

Star Bulk Carriers Trading Up 3.4 %

Shares of Star Bulk Carriers stock traded up $0.49 during trading hours on Thursday, hitting $14.84. The company’s stock had a trading volume of 1,828,763 shares, compared to its average volume of 2,001,640. The business has a fifty day moving average of $16.13 and a 200 day moving average of $19.60. 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 1-year low of $14.30 and a 1-year high of $27.47. The company has a market capitalization of $1.25 billion, a PE ratio of 5.01, a P/E/G ratio of 4.40 and a beta of 0.98.

Hedge Funds Weigh In On Star Bulk Carriers

A number of hedge funds and other institutional investors have recently modified their holdings of SBLK. Blue Trust Inc. lifted its stake in Star Bulk Carriers by 51.3% in the 4th quarter. Blue Trust Inc. now owns 3,063 shares of the shipping company’s stock worth $46,000 after acquiring an additional 1,038 shares in the last quarter. Avior Wealth Management LLC boosted its stake in shares of Star Bulk Carriers by 110.0% during the 4th quarter. Avior Wealth Management LLC now owns 13,947 shares of the shipping company’s stock valued at $209,000 after buying an additional 7,306 shares during the period. Adams Asset Advisors LLC purchased a new position in shares of Star Bulk Carriers during the 4th quarter valued at $1,495,000. Sunbelt Securities Inc. acquired a new position in Star Bulk Carriers in the 3rd quarter worth about $57,000. Finally, Geode Capital Management LLC lifted its holdings in shares of Star Bulk Carriers by 359.3% during the 3rd quarter. Geode Capital Management LLC now owns 457,274 shares of the shipping company’s stock valued at $10,833,000 after buying an additional 357,720 shares during the last quarter. Institutional investors and hedge funds 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.