Star Bulk Carriers (SBLK) Trading 8.7% Higher
Shares of Star Bulk Carriers Corp. (NASDAQ:SBLK) traded up 8.7% during mid-day trading on Monday . The stock traded as high as $11.61 and last traded at $11.56. 1,105,133 shares traded hands during mid-day trading, an increase of 91% from the average session volume of 579,502 shares. The stock had previously closed at $10.63.
Several analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of Star Bulk Carriers from a “buy” rating to a “hold” rating in a research report on Tuesday, October 24th. Stifel Nicolaus set a $11.00 price target on shares of Star Bulk Carriers and gave the company a “hold” rating in a research report on Sunday, October 22nd. Jefferies Group reissued a “buy” rating and issued a $15.00 price target on shares of Star Bulk Carriers in a research report on Thursday, October 19th. TheStreet downgraded shares of Star Bulk Carriers from a “c” rating to a “d+” rating in a research report on Thursday, September 28th. Finally, Pareto Securities raised shares of Star Bulk Carriers from a “hold” rating to a “buy” rating in a research report on Friday, September 8th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Star Bulk Carriers currently has a consensus rating of “Buy” and a consensus price target of $13.00.
The company has a quick ratio of 6.93, a current ratio of 6.93 and a debt-to-equity ratio of 0.96.
A number of institutional investors and hedge funds have recently bought and sold shares of SBLK. Capital Fund Management S.A. purchased a new position in Star Bulk Carriers during the 2nd quarter worth $103,000. Dynamic Technology Lab Private Ltd purchased a new position in Star Bulk Carriers during the 2nd quarter worth $110,000. GLG Partners LP purchased a new position in Star Bulk Carriers during the 2nd quarter worth $127,000. State Street Corp purchased a new position in Star Bulk Carriers during the 2nd quarter worth $176,000. Finally, Neuberger Berman Group LLC boosted its holdings in shares of Star Bulk Carriers by 3.5% in the 2nd quarter. Neuberger Berman Group LLC now owns 31,146 shares of the shipping company’s stock worth $306,000 after buying an additional 1,052 shares during the last quarter. 70.43% of the stock is currently owned by hedge funds and other institutional investors.
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About Star Bulk Carriers
Star Bulk Carriers Corp. is an international shipping company. The Company owns and operates a fleet of dry bulk carrier vessels. As of December 31, 2016, the Company’s fleet included 73 vessels consisting primarily of Newcastlemax and Capesize, as well as Kamsarmax, Ultramax and Supramax vessels with a carrying capacity between 52,055 and 209,537 deadweight tonnage (dwt).
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