BidaskClub Downgrades Star Bulk Carriers (SBLK) to Hold
BidaskClub lowered shares of Star Bulk Carriers (NASDAQ:SBLK) from a buy rating to a hold rating in a research report report published on Tuesday.
A number of other equities analysts have also weighed in on the stock. Morgan Stanley decreased their price target on shares of Star Bulk Carriers from $15.00 to $14.00 and set an overweight rating on the stock in a report on Tuesday, April 17th. Zacks Investment Research upgraded shares of Star Bulk Carriers from a hold rating to a strong-buy rating and set a $15.00 price target on the stock in a report on Thursday, May 24th. Stifel Nicolaus upgraded shares of Star Bulk Carriers from a hold rating to a buy rating and set a $15.00 price target on the stock in a report on Monday, April 23rd. ValuEngine lowered shares of Star Bulk Carriers from a hold rating to a sell rating in a report on Monday. Finally, Seaport Global Securities reiterated a buy rating and issued a $20.00 price target on shares of Star Bulk Carriers in a report on Sunday, August 12th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the stock. Star Bulk Carriers presently has a consensus rating of Buy and a consensus target price of $16.21.
SBLK stock traded up $0.03 during midday trading on Tuesday, hitting $12.56. The stock had a trading volume of 2,730 shares, compared to its average volume of 402,997. The stock has a market capitalization of $842.97 million, a P/E ratio of -57.11 and a beta of 2.24. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.56 and a current ratio of 1.66. Star Bulk Carriers has a 12-month low of $8.62 and a 12-month high of $14.60.
Institutional investors and hedge funds have recently made changes to their positions in the business. Two Sigma Advisers LP increased its stake in Star Bulk Carriers by 195.1% in the 4th quarter. Two Sigma Advisers LP now owns 65,400 shares of the shipping company’s stock valued at $736,000 after buying an additional 43,240 shares during the period. JPMorgan Chase & Co. raised its holdings in Star Bulk Carriers by 24.3% during the 1st quarter. JPMorgan Chase & Co. now owns 188,287 shares of the shipping company’s stock worth $2,190,000 after buying an additional 36,811 shares during the period. Jump Trading LLC acquired a new stake in Star Bulk Carriers during the 1st quarter worth approximately $128,000. Westpac Banking Corp raised its holdings in Star Bulk Carriers by 40.6% during the 1st quarter. Westpac Banking Corp now owns 133,741 shares of the shipping company’s stock worth $1,555,000 after buying an additional 38,641 shares during the period. Finally, A.R.T. Advisors LLC raised its holdings in Star Bulk Carriers by 16.5% during the 1st quarter. A.R.T. Advisors LLC now owns 90,604 shares of the shipping company’s stock worth $1,053,000 after buying an additional 12,800 shares during the period. Institutional investors own 69.59% 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 major bulks, including iron ores, coal, and grains, as well as minor bulks, such as bauxite, fertilizers, and steel products. As of May 14, 2018, the company had a fleet of 108 vessels with an aggregate capacity of approximately 12.26 million deadweight ton (dwt), including 17 Newcastlemax, 18 Capesize, 2 Mini Capesize, 7 Post Panamax, 35 Kamsarmax, 2 Panamax, 16 Ultramax, and 11 Supramax vessels.
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