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

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

A number of other research firms also recently weighed in on SBLK. DNB Markets upgraded shares of Star Bulk Carriers from a “sell” rating to a “hold” rating and lifted their price target for the stock from $19.30 to $20.20 in a research note on Thursday, November 21st. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Star Bulk Carriers in a research note on Wednesday, September 4th. They issued a “buy” rating and a $26.00 target price on the stock. Jefferies Financial Group restated a “buy” rating and set a $28.00 price target on shares of Star Bulk Carriers in a research note on Wednesday, November 20th. Finally, Stifel Nicolaus lowered Star Bulk Carriers from a “buy” rating to a “hold” rating and lowered their price objective for the company 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 issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $23.80.

Star Bulk Carriers Price Performance

Shares of SBLK stock opened at $14.80 on Friday. Star Bulk Carriers has a 12 month low of $14.59 and a 12 month high of $27.47. The company has a market capitalization of $1.24 billion, a P/E ratio of 5.00, a P/E/G ratio of 3.95 and a beta of 0.96. The stock has a 50 day moving average of $18.32 and a two-hundred day moving average of $21.17. The company has a current ratio of 1.69, a quick ratio of 1.50 and a debt-to-equity ratio of 0.44.

Institutional Investors Weigh In On Star Bulk Carriers

A number of hedge funds and other institutional investors have recently bought and sold shares of SBLK. Nisa Investment Advisors LLC bought a new stake in shares of Star Bulk Carriers during the second quarter worth $32,000. Blue Trust Inc. lifted its position 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 worth $49,000 after buying an additional 1,328 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in Star Bulk Carriers during the 2nd quarter worth about $54,000. Quarry LP increased its position in Star Bulk Carriers by 39.8% in the 3rd quarter. Quarry LP now owns 2,365 shares of the shipping company’s stock valued at $56,000 after acquiring an additional 673 shares in the last quarter. Finally, Sunbelt Securities Inc. bought a new position in shares of Star Bulk Carriers in the third quarter worth about $57,000. 33.91% of the stock is owned by institutional investors and hedge funds.

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.