StockNews.com Downgrades Star Bulk Carriers (NASDAQ:SBLK) to Hold

Star Bulk Carriers (NASDAQ:SBLK) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

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

Star Bulk Carriers Price Performance

Shares of NASDAQ SBLK traded down $0.43 during mid-day trading on Tuesday, reaching $19.90. The company’s stock had a trading volume of 1,685,109 shares, compared to its average volume of 1,586,638. The firm has a market capitalization 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. The stock has a fifty day moving average of $20.86 and a two-hundred day moving average of $22.88. Star Bulk Carriers has a 52 week low of $17.92 and a 52 week high of $27.47.

Institutional Investors Weigh In On Star Bulk Carriers

Institutional investors have recently modified their holdings of the stock. Larson Financial Group LLC raised its holdings in shares of Star Bulk Carriers by 696.9% in the third quarter. Larson Financial Group LLC now owns 6,845 shares of the shipping company’s stock worth $162,000 after buying an additional 5,986 shares during the period. Navellier & Associates Inc. purchased a new stake in shares of Star Bulk Carriers in the third quarter worth approximately $892,000. Moors & Cabot Inc. raised its holdings in shares of Star Bulk Carriers by 142.1% in the third quarter. Moors & Cabot Inc. now owns 35,396 shares of the shipping company’s stock worth $839,000 after buying an additional 20,775 shares during the period. Avior Wealth Management LLC raised its holdings in shares of Star Bulk Carriers by 26.4% in the third quarter. Avior Wealth Management LLC now owns 6,641 shares of the shipping company’s stock worth $157,000 after buying an additional 1,385 shares during the period. Finally, AM Squared Ltd purchased a new stake in shares of Star Bulk Carriers in the third quarter worth approximately $76,000. 33.91% of the stock is owned by institutional investors.

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.