Star Bulk Carriers (NASDAQ:SBLK) Cut to “Hold” at StockNews.com

StockNews.com lowered shares of Star Bulk Carriers (NASDAQ:SBLK) from a buy rating to a hold rating in a research report report published on Tuesday morning.

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

Star Bulk Carriers Stock Down 2.1 %

Star Bulk Carriers stock opened at $19.90 on Tuesday. The stock’s 50 day moving average price is $20.86 and its 200 day moving average price is $22.88. The company has a market cap of $1.67 billion, a PE ratio of 7.32 and a beta of 1.00. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.51 and a quick ratio of 1.34. Star Bulk Carriers has a 1-year low of $17.92 and a 1-year high of $27.47.

Hedge Funds Weigh In On Star Bulk Carriers

Several hedge funds have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC acquired a new stake in shares of Star Bulk Carriers in the second quarter valued at approximately $32,000. Blue Trust Inc. grew its holdings 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 buying an additional 1,328 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Star Bulk Carriers during the second quarter worth $54,000. Point72 DIFC Ltd purchased a new position in Star Bulk Carriers during the second quarter worth $72,000. Finally, AM Squared Ltd purchased a new stake in shares of Star Bulk Carriers in the third quarter valued at $76,000. 33.91% of the stock is currently owned by hedge funds and other institutional investors.

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.