Star Bulk Carriers (NASDAQ:SBLK) Shares Gap Up to $25.57

Shares of Star Bulk Carriers Corp. (NASDAQ:SBLK) gapped up before the market opened on Thursday . The stock had previously closed at $25.57, but opened at $26.53. Star Bulk Carriers shares last traded at $26.38, with a volume of 483,518 shares traded.

Analyst Ratings Changes

SBLK has been the topic of several research reports. Jefferies Financial Group reaffirmed a “buy” rating and issued a $30.00 target price on shares of Star Bulk Carriers in a research report on Thursday. Stifel Nicolaus raised their target price on shares of Star Bulk Carriers from $76.00 to $83.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th.

Star Bulk Carriers Price Performance

The company has a current ratio of 1.26, a quick ratio of 1.09 and a debt-to-equity ratio of 0.59. The company’s 50 day moving average is $24.41 and its 200-day moving average is $22.41. The stock has a market cap of $2.20 billion, a PE ratio of 14.88 and a beta of 1.07.

Institutional Investors Weigh In On Star Bulk Carriers

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Artemis Investment Management LLP increased its stake in shares of Star Bulk Carriers by 112.7% in the first quarter. Artemis Investment Management LLP now owns 792,802 shares of the shipping company’s stock worth $18,915,000 after buying an additional 420,100 shares during the last quarter. Grand Alliance Asset Management Ltd acquired a new stake in shares of Star Bulk Carriers during the 4th quarter worth approximately $12,756,000. Gilman Hill Asset Management LLC lifted its holdings in shares of Star Bulk Carriers by 0.3% in the 1st quarter. Gilman Hill Asset Management LLC now owns 404,110 shares of the shipping company’s stock worth $9,646,000 after purchasing an additional 1,046 shares during the last quarter. Ramirez Asset Management Inc. acquired a new position in shares of Star Bulk Carriers during the third quarter valued at $7,752,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in Star Bulk Carriers in the 1st quarter valued at about $7,814,000. 33.91% of the stock is currently owned by hedge funds and other institutional investors.

Star Bulk Carriers Company Profile

Star Bulk Carriers Corp., a shipping company, engages in the ocean transportation of dry bulk cargoes worldwide. Its vessels transport a range of bulk commodities, including iron ores, minerals and grains, bauxite, fertilizers, and steel products. As of December 31, 2023, the company owned a fleet of 116 dry bulk vessels with combined carrying capacity of 13.1 million deadweight tonnage (dwt) consisting of Newcastlemax, Capesize, Post Panamax, Kamsarmax, Panamax, Ultramax, and Supramax vessels with carrying capacities between 53,489 dwt and 209,537 dwt.