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

StockNews.com lowered shares of Star Bulk Carriers (NASDAQ:SBLK) from a buy rating to a hold rating in a research report released on Tuesday morning.

Other research analysts also recently issued reports about the stock. Stifel Nicolaus downgraded shares of Star Bulk Carriers from a “buy” rating to a “hold” rating and dropped their target price for the company from $30.00 to $21.00 in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft started coverage on Star Bulk Carriers in a research report on Wednesday, September 4th. They set a “buy” rating and a $26.00 target price on the stock. Finally, DNB Markets cut Star Bulk Carriers from a “hold” rating to a “sell” rating in a research report on Friday, October 11th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $25.67.

Star Bulk Carriers Stock Performance

Shares of SBLK opened at $19.90 on Tuesday. The company has a market capitalization of $1.67 billion, a price-to-earnings ratio of 7.32 and a beta of 1.00. Star Bulk Carriers has a 52-week low of $17.92 and a 52-week high of $27.47. The company has a quick ratio of 1.34, a current ratio of 1.51 and a debt-to-equity ratio of 0.48. The stock has a 50 day moving average price of $20.86 and a 200 day moving average price of $22.88.

Institutional Investors Weigh In On Star Bulk Carriers

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Nisa Investment Advisors LLC purchased a new stake in Star Bulk Carriers during the 2nd quarter valued at approximately $32,000. Blue Trust Inc. raised its stake 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 purchasing an additional 1,328 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of Star Bulk Carriers during the second quarter worth approximately $54,000. Point72 DIFC Ltd acquired a new stake in shares of Star Bulk Carriers during the second quarter worth $72,000. Finally, AM Squared Ltd purchased a new position in Star Bulk Carriers in the 3rd quarter valued at $76,000. 33.91% of the stock is owned by hedge funds and other 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.