Star Bulk Carriers Corp. (NASDAQ:SBLK) Sees Significant Drop in Short Interest

Star Bulk Carriers Corp. (NASDAQ:SBLK) saw a significant drop in short interest in January. As of January 30th, there was short interest totaling 1,812,219 shares, a drop of 12.5% from the January 15th total of 2,070,356 shares. Based on an average daily volume of 1,438,601 shares, the days-to-cover ratio is currently 1.3 days. Approximately 1.5% of the company’s stock are short sold. Approximately 1.5% of the company’s stock are short sold. Based on an average daily volume of 1,438,601 shares, the days-to-cover ratio is currently 1.3 days.

Star Bulk Carriers Stock Performance

Shares of SBLK stock opened at $24.53 on Wednesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.56 and a current ratio of 1.72. The firm has a market cap of $2.89 billion, a price-to-earnings ratio of 47.17 and a beta of 0.79. Star Bulk Carriers has a 52 week low of $12.06 and a 52 week high of $24.70. The firm’s 50-day simple moving average is $20.76 and its two-hundred day simple moving average is $19.53.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Star Bulk Carriers in a report on Monday, December 29th. Jefferies Financial Group restated a “buy” rating and issued a $22.00 target price on shares of Star Bulk Carriers in a research note on Wednesday, November 19th. Finally, Zacks Research lowered Star Bulk Carriers from a “strong-buy” rating to a “hold” rating in a report on Friday, January 30th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Star Bulk Carriers currently has a consensus rating of “Hold” and an average target price of $22.00.

Institutional Trading of Star Bulk Carriers

Institutional investors have recently modified their holdings of the business. Alliancebernstein L.P. grew its stake in Star Bulk Carriers by 44.6% in the 3rd quarter. Alliancebernstein L.P. now owns 5,446,191 shares of the shipping company’s stock valued at $101,245,000 after buying an additional 1,681,036 shares in the last quarter. Mirabella Financial Services LLP purchased a new stake in shares of Star Bulk Carriers during the third quarter worth $73,967,000. Ameriprise Financial Inc. boosted its holdings in shares of Star Bulk Carriers by 33.2% in the third quarter. Ameriprise Financial Inc. now owns 2,166,892 shares of the shipping company’s stock worth $40,283,000 after acquiring an additional 539,567 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Star Bulk Carriers by 59.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,298,436 shares of the shipping company’s stock valued at $20,204,000 after purchasing an additional 485,436 shares in the last quarter. Finally, Focus Partners Wealth raised its stake in shares of Star Bulk Carriers by 4.3% during the 4th quarter. Focus Partners Wealth now owns 1,041,252 shares of the shipping company’s stock valued at $19,391,000 after purchasing an additional 43,158 shares during the period. 33.91% of the stock is currently owned by hedge funds and other institutional investors.

Star Bulk Carriers Company Profile

Star Bulk Carriers Corp is a global shipping company engaged in the ocean transport of dry bulk commodities. The company owns and operates a diversified fleet of bulk carriers, including Handymax, Supramax, Panamax and Capesize vessels. Its ships are designed to carry a broad range of cargoes, such as iron ore, coal, grain, bauxite and phosphate, catering to industrial and agricultural customers worldwide.

The company’s vessels operate on major trade routes across the Atlantic, Pacific and Indian Oceans, connecting producers and consumers in Asia, Europe, North and South America.