ValuEngine lowered shares of Star Bulk Carriers (NASDAQ:SBLK) from a sell rating to a strong sell rating in a report published on Tuesday morning.
SBLK has been the subject of several other research reports. Zacks Investment Research raised Star Bulk Carriers from a hold rating to a buy rating and set a $14.00 price target for the company in a report on Tuesday, July 17th. BidaskClub lowered Star Bulk Carriers from a hold rating to a sell rating in a research note on Thursday, September 6th. Deutsche Bank set a $17.00 price objective on Star Bulk Carriers and gave the company a buy rating in a research note on Friday, September 28th. JPMorgan Chase & Co. set a $20.00 price objective on Star Bulk Carriers and gave the company a buy rating in a research note on Tuesday, September 11th. Finally, Seaport Global Securities reiterated a buy rating and issued a $20.00 price objective on shares of Star Bulk Carriers in a research note on Sunday, August 12th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $16.71.
Star Bulk Carriers stock traded down $0.05 during trading hours on Tuesday, hitting $10.53. The stock had a trading volume of 602,011 shares, compared to its average volume of 625,584. The company has a quick ratio of 1.46, a current ratio of 1.59 and a debt-to-equity ratio of 0.79. The stock has a market cap of $700.28 million, a price-to-earnings ratio of -47.86 and a beta of 2.59. Star Bulk Carriers has a fifty-two week low of $8.62 and a fifty-two week high of $15.38.
Hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC grew its position in Star Bulk Carriers by 78.2% during the 2nd quarter. Renaissance Technologies LLC now owns 1,098,899 shares of the shipping company’s stock worth $14,132,000 after acquiring an additional 482,319 shares during the last quarter. Gilder Gagnon Howe & Co. LLC grew its position in Star Bulk Carriers by 99.7% during the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 792,113 shares of the shipping company’s stock worth $10,187,000 after acquiring an additional 395,397 shares during the last quarter. Millennium Management LLC grew its position in Star Bulk Carriers by 262.1% during the 1st quarter. Millennium Management LLC now owns 666,607 shares of the shipping company’s stock worth $7,753,000 after acquiring an additional 482,501 shares during the last quarter. Artemis Investment Management LLP bought a new stake in Star Bulk Carriers during the 3rd quarter worth approximately $6,209,000. Finally, Marshall Wace LLP grew its position in Star Bulk Carriers by 10.1% during the 2nd quarter. Marshall Wace LLP now owns 370,616 shares of the shipping company’s stock worth $4,766,000 after acquiring an additional 34,082 shares during the last quarter. Institutional investors own 68.09% 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 major bulks, including iron ores, coal, and grains, as well as minor bulks, such as bauxite, fertilizers, and steel products. As of October 10, 2018, the company had a fleet of 111 vessels with an aggregate capacity of approximately 12.67 million deadweight ton (dwt), including 17 Newcastlemax, 20 Capesize, 2 Mini Capesize, 7 Post Panamax, 35 Kamsarmax, 2 Panamax, 16 Ultramax, and 12 Supramax vessels.
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