Star Bulk Carriers (NASDAQ:SBLK) Upgraded by DNB Markets to “Hold” Rating

Star Bulk Carriers (NASDAQ:SBLK) was upgraded by research analysts at DNB Markets from a “sell” rating to a “hold” rating in a report released on Thursday,Finviz reports. The brokerage presently has a $20.20 price objective on the shipping company’s stock, up from their prior price objective of $19.30. DNB Markets’ price target points to a potential upside of 6.48% from the company’s previous close.

Other equities analysts also recently issued reports about the stock. Stifel Nicolaus downgraded shares of Star Bulk Carriers from a “buy” rating to a “hold” rating and decreased their price target for the company from $30.00 to $21.00 in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft assumed coverage on Star Bulk Carriers in a research note on Wednesday, September 4th. They issued a “buy” rating and a $26.00 price target for the company. StockNews.com upgraded shares of Star Bulk Carriers from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $28.00 price objective on shares of Star Bulk Carriers in a research note on Wednesday. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Star Bulk Carriers has a consensus rating of “Moderate Buy” and an average target price of $23.80.

Star Bulk Carriers Stock Down 5.3 %

Star Bulk Carriers stock opened at $18.97 on Thursday. Star Bulk Carriers has a twelve month low of $18.92 and a twelve month high of $27.47. The stock has a market cap of $1.59 billion, a P/E ratio of 6.41 and a beta of 1.00. The company’s 50-day moving average price is $20.80 and its two-hundred day moving average price is $22.67. The company has a quick ratio of 1.34, a current ratio of 1.51 and a debt-to-equity ratio of 0.48.

Hedge Funds Weigh In On Star Bulk Carriers

A number of hedge funds have recently modified their holdings of the business. Nisa Investment Advisors LLC acquired a new position in Star Bulk Carriers during the 2nd quarter worth about $32,000. Blue Trust Inc. lifted its stake in shares of 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 acquiring an additional 1,328 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of Star Bulk Carriers in the second quarter worth approximately $54,000. Quarry LP boosted its holdings in Star Bulk Carriers by 39.8% in the third quarter. Quarry LP now owns 2,365 shares of the shipping company’s stock valued at $56,000 after acquiring an additional 673 shares during the last quarter. Finally, Sunbelt Securities Inc. acquired a new stake in Star Bulk Carriers during the 3rd quarter valued at approximately $57,000. Institutional investors and hedge funds own 33.91% of the company’s stock.

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.