Jefferies Financial Group Reiterates "Buy" Rating for Star Bulk Carriers (NASDAQ:SBLK)

Star Bulk Carriers (NASDAQ:SBLK - Get Free Report)'s stock had its "buy" rating restated by research analysts at Jefferies Financial Group in a note issued to investors on Wednesday,Benzinga reports. They currently have a $28.00 price target on the shipping company's stock. Jefferies Financial Group's price target would suggest a potential upside of 47.60% from the company's previous close.

A number of other equities research analysts have also recently issued reports on SBLK. DNB Markets cut Star Bulk Carriers from a "hold" rating to a "sell" rating in a research note on Friday, October 11th. Deutsche Bank Aktiengesellschaft began coverage on shares of Star Bulk Carriers in a research report on Wednesday, September 4th. They set a "buy" rating and a $26.00 price target for the company. StockNews.com cut shares of Star Bulk Carriers from a "buy" rating to a "hold" rating in a research report on Tuesday, November 12th. Finally, Stifel Nicolaus lowered shares of Star Bulk Carriers from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $30.00 to $21.00 in a report on Wednesday, October 23rd. One 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 MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $25.00.

Star Bulk Carriers Stock Down 5.3 %

Shares of NASDAQ SBLK traded down $1.06 during trading on Wednesday, hitting $18.97. 4,504,862 shares of the company traded hands, compared to its average volume of 1,597,494. The firm has a market capitalization of $1.59 billion, a price-to-earnings ratio of 7.36 and a beta of 1.00. Star Bulk Carriers has a fifty-two week low of $18.92 and a fifty-two week high of $27.47. The business's fifty day moving average is $20.83 and its 200 day moving average is $22.69. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.34 and a current ratio of 1.51.

Hedge Funds Weigh In On Star Bulk Carriers

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SBLK. Nisa Investment Advisors LLC bought a new position in Star Bulk Carriers during the second quarter valued at $32,000. Blue Trust Inc. grew its holdings in shares of Star Bulk Carriers by 190.5% in the third quarter. Blue Trust Inc. now owns 2,025 shares of the shipping company's stock worth $49,000 after purchasing an additional 1,328 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Star Bulk Carriers in the 2nd quarter worth about $54,000. Quarry LP raised its position in Star Bulk Carriers by 39.8% during the 3rd quarter. Quarry LP now owns 2,365 shares of the shipping company's stock valued at $56,000 after purchasing an additional 673 shares in the last quarter. Finally, Sunbelt Securities Inc. purchased a new position in Star Bulk Carriers during the third quarter valued at approximately $57,000. 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.