StockNews.com Upgrades Star Bulk Carriers (NASDAQ:SBLK) to Buy

Star Bulk Carriers (NASDAQ:SBLK - Get Free Report) was upgraded by StockNews.com from a "hold" rating to a "buy" rating in a note issued to investors on Wednesday.

Several other equities research analysts have also recently commented on the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of Star Bulk Carriers in a research report on Wednesday, September 4th. They issued a "buy" rating and a $26.00 price objective on the stock. DNB Markets upgraded shares of Star Bulk Carriers from a "sell" rating to a "hold" rating and boosted their price objective for the stock from $19.30 to $20.20 in a research note on Thursday, November 21st. Jefferies Financial Group restated a "buy" rating and set a $28.00 price objective on shares of Star Bulk Carriers in a research note on Wednesday, November 20th. Finally, Stifel Nicolaus lowered shares of Star Bulk Carriers from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $30.00 to $21.00 in a research note on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $23.80.

Star Bulk Carriers Trading Down 2.1 %

Shares of NASDAQ SBLK traded down $0.36 during midday trading on Wednesday, reaching $16.86. 3,573,096 shares of the stock were exchanged, compared to its average volume of 1,631,204. The business has a 50-day simple moving average of $20.05 and a two-hundred day simple moving average of $22.11. The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of 5.70, a P/E/G ratio of 4.44 and a beta of 0.96. Star Bulk Carriers has a 12 month low of $16.77 and a 12 month high of $27.47. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.69 and a quick ratio of 1.50.

Institutional Trading of Star Bulk Carriers

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Nisa Investment Advisors LLC bought a new position in Star Bulk Carriers in the 2nd quarter valued at approximately $32,000. Blue Trust Inc. lifted its stake in Star Bulk Carriers by 190.5% in the 3rd quarter. Blue Trust Inc. now owns 2,025 shares of the shipping company's stock valued at $49,000 after purchasing an additional 1,328 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in Star Bulk Carriers in the 2nd quarter valued at approximately $54,000. Quarry LP increased its position in shares of Star Bulk Carriers by 39.8% during 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 period. Finally, Sunbelt Securities Inc. acquired a new stake in shares of Star Bulk Carriers during the third quarter worth $57,000. Institutional investors own 33.91% of the company's stock.

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.