Star Bulk Carriers (NASDAQ:SBLK) Hits New 1-Year High at $18.13

Star Bulk Carriers Corp. (NASDAQ:SBLK) reached a new 52-week high during trading on Thursday . The company traded as high as $18.13 and last traded at $18.07, with a volume of 19677 shares traded. The stock had previously closed at $17.73.

Several equities research analysts recently commented on the stock. Zacks Investment Research upgraded shares of Star Bulk Carriers from a “hold” rating to a “strong-buy” rating and set a $19.00 price target for the company in a research report on Thursday. Deutsche Bank Aktiengesellschaft upped their price target on Star Bulk Carriers from $15.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, March 11th. TheStreet upgraded Star Bulk Carriers from a “d+” rating to a “c-” rating in a report on Tuesday, February 9th. Finally, Jefferies Financial Group raised their price target on shares of Star Bulk Carriers from $10.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, January 29th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Star Bulk Carriers has an average rating of “Buy” and a consensus target price of $14.65.

The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.07 and a current ratio of 1.07. The firm has a market cap of $1.78 billion, a price-to-earnings ratio of 354.67 and a beta of 1.34. The firm’s 50 day moving average is $15.04 and its 200-day moving average is $10.66.

Star Bulk Carriers (NASDAQ:SBLK) last released its quarterly earnings results on Tuesday, February 16th. The shipping company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.08. The company had revenue of $186.02 million during the quarter, compared to the consensus estimate of $186.57 million. Star Bulk Carriers had a return on equity of 1.41% and a net margin of 0.71%. As a group, research analysts predict that Star Bulk Carriers Corp. will post 0.04 EPS for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Private Advisor Group LLC bought a new stake in shares of Star Bulk Carriers during the 1st quarter worth about $245,000. CHURCHILL MANAGEMENT Corp acquired a new position in shares of Star Bulk Carriers during the 1st quarter worth about $2,346,000. Virtu Financial LLC acquired a new position in shares of Star Bulk Carriers during the 4th quarter worth about $211,000. Squarepoint Ops LLC lifted its position in shares of Star Bulk Carriers by 20.3% during the 4th quarter. Squarepoint Ops LLC now owns 36,597 shares of the shipping company’s stock worth $323,000 after purchasing an additional 6,177 shares during the last quarter. Finally, Morgan Stanley lifted its position in shares of Star Bulk Carriers by 939.9% during the 4th quarter. Morgan Stanley now owns 717,976 shares of the shipping company’s stock worth $6,340,000 after purchasing an additional 648,930 shares during the last quarter. Institutional investors own 55.21% of the company’s stock.

About Star Bulk Carriers (NASDAQ:SBLK)

Star Bulk Carriers Corp., a shipping company, engages in the ocean transportation of dry bulk cargoes worldwide. The company's 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 March 16, 2021, it had a fleet of 128 vessels with an aggregate capacity of approximately 14.1 million deadweight tons, including 17 Newcastlemax, 22 Capesize, 2 Mini Capesize, 7 Post Panamax, 41 Kamsarmax, 2 Panamax, 20 Ultramax, and 17 Supramax vessels.

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