Star Bulk Carriers Corp. (NASDAQ:SBLK) Short Interest Update

Star Bulk Carriers Corp. (NASDAQ:SBLK) saw a large decline in short interest during the month of October. As of October 15th, there was short interest totalling 1,460,000 shares, a decline of 14.6% from the September 30th total of 1,710,000 shares. Based on an average trading volume of 1,730,000 shares, the short-interest ratio is presently 0.8 days.

Analyst Ratings Changes

A number of research firms have recently issued reports on SBLK. DNB Markets cut Star Bulk Carriers from a “hold” rating to a “sell” rating in a report on Friday, October 11th. Stifel Nicolaus downgraded shares of Star Bulk Carriers from a “buy” rating to a “hold” rating and decreased their price target for the stock from $30.00 to $21.00 in a research note on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Star Bulk Carriers in a research report on Wednesday, September 4th. They issued a “buy” rating and a $26.00 target price on the stock. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Star Bulk Carriers presently has an average rating of “Hold” and an average target price of $25.67.

Hedge Funds Weigh In On Star Bulk Carriers

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Nisa Investment Advisors LLC bought a new stake in Star Bulk Carriers during the 2nd quarter valued at approximately $32,000. FinTrust Capital Advisors LLC grew its stake in Star Bulk Carriers by 100.0% in the first quarter. FinTrust Capital Advisors LLC now owns 2,000 shares of the shipping company’s stock worth $48,000 after purchasing an additional 1,000 shares during the period. Blue Trust Inc. grew its stake in Star Bulk Carriers by 190.5% in the third quarter. Blue Trust Inc. now owns 2,025 shares of the shipping company’s stock worth $49,000 after purchasing an additional 1,328 shares during the period. Allspring Global Investments Holdings LLC bought a new position in Star Bulk Carriers in the second quarter worth $54,000. Finally, Point72 DIFC Ltd purchased a new position in Star Bulk Carriers during the second quarter valued at $72,000. Institutional investors own 33.91% of the company’s stock.

Star Bulk Carriers Trading Up 1.8 %

Star Bulk Carriers stock traded up $0.34 during trading hours on Tuesday, reaching $19.37. The company had a trading volume of 1,807,077 shares, compared to its average volume of 1,597,369. The firm has a market cap of $1.63 billion, a price-to-earnings ratio of 7.12 and a beta of 0.98. Star Bulk Carriers has a 12-month low of $17.91 and a 12-month high of $27.47. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.51 and a quick ratio of 1.34. The company has a 50-day moving average price of $21.16 and a 200 day moving average price of $23.13.

Star Bulk Carriers (NASDAQ:SBLK) last announced its quarterly earnings results on Wednesday, August 7th. The shipping company reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.01). Star Bulk Carriers had a net margin of 24.05% and a return on equity of 13.58%. The firm had revenue of $352.88 million for the quarter, compared to analysts’ expectations of $329.38 million. During the same period in the previous year, the company earned $0.47 EPS. Equities analysts forecast that Star Bulk Carriers will post 2.98 earnings per share for the current year.

Star Bulk Carriers Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Tuesday, August 27th were given a $0.70 dividend. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 14.46%. Star Bulk Carriers’s dividend payout ratio is currently 102.94%.

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.