Star Bulk Carriers (NASDAQ:SBLK) Sets New 12-Month High – Should You Buy?

Shares of Star Bulk Carriers Corp. (NASDAQ:SBLK) hit a new 52-week high during trading on Tuesday . The company traded as high as $24.70 and last traded at $24.4550, with a volume of 691867 shares traded. The stock had previously closed at $23.80.

Analyst Upgrades and Downgrades

SBLK has been the subject of a number of recent analyst reports. Zacks Research downgraded Star Bulk Carriers from a “strong-buy” rating to a “hold” rating in a report on Friday, January 30th. Jefferies Financial Group restated a “buy” rating and set a $22.00 target price on shares of Star Bulk Carriers in a research note on Wednesday, November 19th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Star Bulk Carriers in a report on Monday, December 29th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $22.00.

Star Bulk Carriers Stock Up 3.1%

The stock has a market cap of $2.89 billion, a PE ratio of 47.17 and a beta of 0.79. The business has a 50 day moving average of $20.67 and a 200-day moving average of $19.49. The company has a current ratio of 1.72, a quick ratio of 1.56 and a debt-to-equity ratio of 0.36.

Institutional Investors Weigh In On Star Bulk Carriers

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Mirabella Financial Services LLP purchased a new position in shares of Star Bulk Carriers in the 3rd quarter valued at approximately $73,967,000. Alliancebernstein L.P. purchased a new position in Star Bulk Carriers during the 2nd quarter worth $64,949,000. Boston Partners lifted its stake in shares of Star Bulk Carriers by 424.7% in the 4th quarter. Boston Partners now owns 843,098 shares of the shipping company’s stock worth $16,205,000 after acquiring an additional 682,406 shares during the period. Ameriprise Financial Inc. increased its stake in shares of Star Bulk Carriers by 33.2% during 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. Finally, Bridgewater Associates LP raised its holdings in Star Bulk Carriers by 670.5% during the fourth quarter. Bridgewater Associates LP now owns 604,686 shares of the shipping company’s stock worth $11,622,000 after purchasing an additional 526,203 shares in the last quarter. 33.91% of the stock is 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.