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

StockNews.com downgraded shares of Star Bulk Carriers (NASDAQ:SBLK) from a buy rating to a hold rating in a research note issued to investors on Tuesday morning.

SBLK has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Star Bulk Carriers in a report on Wednesday, September 4th. They set a “buy” rating and a $26.00 price objective on the stock. Stifel Nicolaus downgraded shares of Star Bulk Carriers from a “buy” rating to a “hold” rating and cut their target price for the company from $30.00 to $21.00 in a research note on Wednesday, October 23rd. Finally, DNB Markets cut shares of Star Bulk Carriers from a “hold” rating to a “sell” rating in a research note on Friday, October 11th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $25.67.

Star Bulk Carriers Price Performance

Shares of Star Bulk Carriers stock opened at $20.33 on Tuesday. 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 firm has a market cap of $1.71 billion, a P/E ratio of 7.42 and a beta of 1.00. Star Bulk Carriers has a twelve month low of $18.63 and a twelve month high of $27.47. The firm’s 50-day simple moving average is $20.83 and its 200-day simple moving average is $22.83.

Institutional Trading of Star Bulk Carriers

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Ritholtz Wealth Management lifted its holdings in Star Bulk Carriers by 2.8% during the third quarter. Ritholtz Wealth Management now owns 32,630 shares of the shipping company’s stock valued at $773,000 after purchasing an additional 890 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. increased its holdings in shares of Star Bulk Carriers by 8.5% in the second quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 16,640 shares of the shipping company’s stock worth $406,000 after buying an additional 1,310 shares during the period. Nisa Investment Advisors LLC purchased a new stake in Star Bulk Carriers during the 2nd quarter valued at about $32,000. Blue Trust Inc. grew 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 acquiring an additional 1,328 shares during the last quarter. Finally, Avior Wealth Management LLC increased its stake in Star Bulk Carriers by 26.4% in the 3rd quarter. Avior Wealth Management LLC now owns 6,641 shares of the shipping company’s stock worth $157,000 after purchasing an additional 1,385 shares during the period. Institutional investors own 33.91% of the company’s stock.

Star Bulk Carriers Company Profile

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.