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

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

Other analysts also recently issued research reports about the company. Jefferies Financial Group reaffirmed a “buy” rating and set a $28.00 price objective on shares of Star Bulk Carriers in a research note on Wednesday. DNB Markets downgraded shares of Star Bulk Carriers from a “hold” rating to a “sell” rating in a report on Friday, October 11th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Star Bulk Carriers in a research report on Wednesday, September 4th. They issued a “buy” rating and a $26.00 target price for the company. Finally, Stifel Nicolaus downgraded shares of Star Bulk Carriers from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $30.00 to $21.00 in a research note on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Star Bulk Carriers has a consensus rating of “Moderate Buy” and a consensus target price of $23.80.

Star Bulk Carriers Price Performance

Shares of SBLK stock opened at $18.73 on Wednesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.34 and a current ratio of 1.51. The stock has a market capitalization of $1.57 billion, a PE ratio of 6.33 and a beta of 1.00. The stock’s fifty day moving average is $20.80 and its 200-day moving average is $22.67. Star Bulk Carriers has a 52 week low of $18.52 and a 52 week high of $27.47.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of SBLK. Nisa Investment Advisors LLC acquired a new stake in shares of 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% during the 3rd quarter. Blue Trust Inc. now owns 2,025 shares of the shipping company’s stock valued at $49,000 after acquiring an additional 1,328 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Star Bulk Carriers during the second quarter valued at about $54,000. Quarry LP boosted its holdings in 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 purchasing an additional 673 shares during the last quarter. Finally, Sunbelt Securities Inc. purchased a new position in shares of Star Bulk Carriers in the 3rd quarter worth approximately $57,000. Institutional investors and hedge funds 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.