StockNews.com Downgrades Star Bulk Carriers (NASDAQ:SBLK) to Hold

Star Bulk Carriers (NASDAQ:SBLKGet Free Report) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Thursday.

SBLK has been the topic of a number of other reports. Jefferies Financial Group reiterated a “buy” rating and set a $28.00 price objective on shares of Star Bulk Carriers in a research note on Wednesday, November 20th. Stifel Nicolaus downgraded 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. Finally, DNB Markets upgraded Star Bulk Carriers from a “sell” rating to a “hold” rating and raised their target price for the company from $19.30 to $20.20 in a research note on Thursday, November 21st. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $23.80.

Check Out Our Latest Research Report on SBLK

Star Bulk Carriers Stock Down 0.2 %

Shares of NASDAQ SBLK opened at $14.81 on Thursday. The firm has a market cap of $1.24 billion, a price-to-earnings ratio of 5.00, a PEG ratio of 4.30 and a beta of 0.98. Star Bulk Carriers has a 1 year low of $14.30 and a 1 year high of $27.47. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.50 and a current ratio of 1.69. The stock’s 50-day simple moving average is $16.03 and its 200-day simple moving average is $19.57.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Blue Trust Inc. lifted its position in Star Bulk Carriers by 51.3% in the fourth quarter. Blue Trust Inc. now owns 3,063 shares of the shipping company’s stock worth $46,000 after purchasing an additional 1,038 shares during the period. Quarry LP lifted its holdings in shares of Star Bulk Carriers by 39.8% in the third quarter. Quarry LP now owns 2,365 shares of the shipping company’s stock valued at $56,000 after buying an additional 673 shares during the period. Sunbelt Securities Inc. bought a new position in Star Bulk Carriers during the third quarter valued at about $57,000. Point72 DIFC Ltd acquired a new position in Star Bulk Carriers during the second quarter worth about $72,000. Finally, AM Squared Ltd bought a new stake in Star Bulk Carriers in the third quarter worth about $76,000. Institutional investors and hedge funds own 33.91% of the company’s stock.

Star Bulk Carriers Company Profile

(Get Free Report)

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.

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