Short Interest in Star Bulk Carriers Corp. (NASDAQ:SBLK) Decreases By 16.7%

Star Bulk Carriers Corp. (NASDAQ:SBLK) was the recipient of a significant drop in short interest in the month of April. As of April 15th, there was short interest totalling 4,240,000 shares, a drop of 16.7% from the March 31st total of 5,090,000 shares. Approximately 5.1% of the company’s shares are short sold. Based on an average daily trading volume, of 2,110,000 shares, the short-interest ratio is presently 2.0 days.

Star Bulk Carriers Trading Up 1.6 %

SBLK opened at $15.03 on Friday. The firm’s 50 day moving average is $15.02 and its 200-day moving average is $16.13. Star Bulk Carriers has a 52-week low of $12.06 and a 52-week high of $27.47. The company has a quick ratio of 1.50, a current ratio of 1.65 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $1.77 billion, a P/E ratio of 5.24 and a beta of 0.89.

Star Bulk Carriers (NASDAQ:SBLK) last released its quarterly earnings results on Tuesday, February 18th. The shipping company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.08). The firm had revenue of $308.92 million for the quarter, compared to analysts’ expectations of $230.91 million. Star Bulk Carriers had a return on equity of 12.48% and a net margin of 24.08%. Analysts expect that Star Bulk Carriers will post 1.74 EPS for the current fiscal year.

Star Bulk Carriers Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 4th were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 2.40%. The ex-dividend date of this dividend was Tuesday, March 4th. Star Bulk Carriers’s dividend payout ratio (DPR) is 12.54%.

Analyst Ratings Changes

Several research firms have issued reports on SBLK. StockNews.com downgraded shares of Star Bulk Carriers from a “buy” rating to a “hold” rating in a research note on Thursday, January 23rd. Jefferies Financial Group lowered their price target on Star Bulk Carriers from $22.00 to $21.00 and set a “buy” rating for the company in a report on Wednesday, February 19th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $22.05.

Institutional Investors Weigh In On Star Bulk Carriers

A number of hedge funds have recently bought and sold shares of SBLK. Barclays PLC boosted its stake in shares of Star Bulk Carriers by 7,313.4% during the 3rd quarter. Barclays PLC now owns 455,254 shares of the shipping company’s stock valued at $10,784,000 after buying an additional 449,113 shares during the last quarter. Adams Asset Advisors LLC bought a new position in Star Bulk Carriers during the 4th quarter valued at $1,495,000. Avior Wealth Management LLC grew its holdings in Star Bulk Carriers by 110.0% during the 4th quarter. Avior Wealth Management LLC now owns 13,947 shares of the shipping company’s stock worth $209,000 after acquiring an additional 7,306 shares in the last quarter. Blue Trust Inc. increased its position in shares of Star Bulk Carriers by 51.3% in the 4th quarter. Blue Trust Inc. now owns 3,063 shares of the shipping company’s stock worth $46,000 after purchasing an additional 1,038 shares during the last quarter. Finally, DAVENPORT & Co LLC raised its stake in shares of Star Bulk Carriers by 8.3% in the 4th quarter. DAVENPORT & Co LLC now owns 14,129 shares of the shipping company’s stock valued at $211,000 after purchasing an additional 1,083 shares in the last quarter. Institutional investors and hedge funds own 33.91% of the company’s stock.

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.