Star Bulk Carriers Corp. (NASDAQ:SBLK) Short Interest Update

Star Bulk Carriers Corp. (NASDAQ:SBLK) saw a significant growth in short interest in the month of December. As of December 31st, there was short interest totalling 1,620,000 shares, a growth of 6.6% from the December 15th total of 1,520,000 shares. Currently, 2.2% of the company’s shares are sold short. Based on an average daily trading volume, of 663,900 shares, the days-to-cover ratio is presently 2.4 days.

Shares of SBLK opened at $10.72 on Friday. The firm has a market capitalization of $983.49 million, a P/E ratio of 9.66 and a beta of 1.67. Star Bulk Carriers has a 12-month low of $6.16 and a 12-month high of $12.09. The company has a current ratio of 0.82, a quick ratio of 0.64 and a debt-to-equity ratio of 0.88. The firm has a fifty day moving average price of $11.14 and a 200-day moving average price of $10.55.

Star Bulk Carriers (NASDAQ:SBLK) last issued its earnings results on Wednesday, November 20th. The shipping company reported $0.18 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.01. The firm had revenue of $248.44 million during the quarter, compared to analyst estimates of $215.35 million. Star Bulk Carriers had a negative net margin of 3.50% and a positive return on equity of 1.24%. Analysts predict that Star Bulk Carriers will post 0.09 earnings per share for the current year.

Institutional investors and hedge funds have recently modified their holdings of the company. State Street Corp boosted its stake in shares of Star Bulk Carriers by 9.3% during the third quarter. State Street Corp now owns 85,028 shares of the shipping company’s stock valued at $856,000 after purchasing an additional 7,235 shares during the period. Tower Research Capital LLC TRC purchased a new stake in shares of Star Bulk Carriers during the third quarter valued at $32,000. California Public Employees Retirement System boosted its stake in shares of Star Bulk Carriers by 5.8% during the third quarter. California Public Employees Retirement System now owns 205,700 shares of the shipping company’s stock valued at $2,071,000 after purchasing an additional 11,188 shares during the period. Phoenix Holdings Ltd. purchased a new stake in shares of Star Bulk Carriers during the third quarter valued at $3,417,000. Finally, Barclays PLC raised its holdings in shares of Star Bulk Carriers by 1,165.6% in the third quarter. Barclays PLC now owns 16,503 shares of the shipping company’s stock valued at $166,000 after acquiring an additional 15,199 shares in the last quarter. 54.75% of the stock is owned by hedge funds and other institutional investors.

SBLK has been the subject of several recent analyst reports. BidaskClub lowered shares of Star Bulk Carriers from a “hold” rating to a “sell” rating in a research note on Wednesday. Pareto Securities lowered shares of Star Bulk Carriers from a “buy” rating to a “hold” rating in a research note on Wednesday, November 13th. Zacks Investment Research raised shares of Star Bulk Carriers from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research note on Thursday. Finally, ValuEngine raised shares of Star Bulk Carriers from a “sell” rating to a “hold” rating in a research note on Saturday, January 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $13.50.

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 April 10, 2019, the company had a fleet of 109 vessels with an aggregate capacity of approximately 12.45 million deadweight ton, including 17 Newcastlemax, 19 Capesize, 2 Mini Capesize, 7 Post Panamax, 35 Kamsarmax, 2 Panamax, 17 Ultramax, and 10 Supramax vessels.

Featured Story: Why do commodities matter?

Receive News & Ratings for Star Bulk Carriers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Star Bulk Carriers and related companies with MarketBeat.com's FREE daily email newsletter.