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

Star Bulk Carriers (NASDAQ:SBLK) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Tuesday.

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

Star Bulk Carriers Trading Up 0.9 %

Shares of SBLK opened at $20.08 on Tuesday. The business has a 50-day moving average of $20.84 and a 200 day moving average of $22.85. Star Bulk Carriers has a fifty-two week low of $17.92 and a fifty-two week high of $27.47. The firm has a market cap of $1.69 billion, a P/E ratio of 7.32 and a beta of 1.00. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.34 and a current ratio of 1.51.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in SBLK. BNP Paribas Financial Markets raised its stake in shares of Star Bulk Carriers by 84.6% in the first quarter. BNP Paribas Financial Markets now owns 10,761 shares of the shipping company’s stock worth $257,000 after buying an additional 4,933 shares during the period. Russell Investments Group Ltd. raised its stake in Star Bulk Carriers by 14.4% during the 1st quarter. Russell Investments Group Ltd. now owns 199,760 shares of the shipping company’s stock valued at $4,768,000 after purchasing an additional 25,106 shares during the period. Prevail Innovative Wealth Advisors LLC bought a new stake in Star Bulk Carriers during the 1st quarter valued at approximately $1,849,000. MQS Management LLC bought a new stake in Star Bulk Carriers during the 1st quarter valued at approximately $790,000. Finally, Axxcess Wealth Management LLC bought a new stake in Star Bulk Carriers during the 1st quarter valued at approximately $212,000. 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.