Star Bulk Carriers Corp. (NASDAQ:SBLK) shares gapped down prior to trading on Thursday . The stock had previously closed at $12.78, but opened at $12.79. Star Bulk Carriers shares last traded at $12.90, with a volume of 49536 shares changing hands.
A number of research firms have recently commented on SBLK. Deutsche Bank increased their price objective on Star Bulk Carriers to $17.00 and gave the company a “buy” rating in a report on Wednesday, June 20th. Morgan Stanley dropped their price objective on Star Bulk Carriers from $15.00 to $14.00 and set an “overweight” rating on the stock in a report on Tuesday, April 17th. JPMorgan Chase & Co. increased their price objective on Star Bulk Carriers from $17.00 to $17.50 and gave the company an “overweight” rating in a report on Friday, March 23rd. ValuEngine upgraded Star Bulk Carriers from a “sell” rating to a “hold” rating in a report on Wednesday, May 2nd. Finally, TheStreet upgraded Star Bulk Carriers from a “d+” rating to a “c” rating in a report on Friday, March 2nd. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $15.79.
The stock has a market cap of $820.52 million, a PE ratio of -58.45 and a beta of 2.32. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.66 and a quick ratio of 1.56.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Atlantic Trust Group LLC lifted its holdings in shares of Star Bulk Carriers by 79.0% in the 1st quarter. Atlantic Trust Group LLC now owns 9,362 shares of the shipping company’s stock valued at $109,000 after buying an additional 4,132 shares during the period. Jump Trading LLC acquired a new stake in shares of Star Bulk Carriers in the 1st quarter valued at approximately $128,000. Tokio Marine Asset Management Co. Ltd. acquired a new stake in shares of Star Bulk Carriers in the 1st quarter valued at approximately $162,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Star Bulk Carriers in the 1st quarter valued at approximately $180,000. Finally, Quadrature Capital Ltd acquired a new stake in shares of Star Bulk Carriers in the 1st quarter valued at approximately $241,000. 69.01% of the stock is owned by hedge funds and other institutional investors.
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 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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