Weiss Ratings Reiterates “Hold (C-)” Rating for Star Bulk Carriers (NASDAQ:SBLK)

Star Bulk Carriers (NASDAQ:SBLK)‘s stock had its “hold (c-)” rating reiterated by Weiss Ratings in a report released on Saturday,Weiss Ratings reports.

Other equities analysts also recently issued research reports about the company. Wall Street Zen raised Star Bulk Carriers from a “sell” rating to a “hold” rating in a research report on Sunday, August 10th. Zacks Research upgraded shares of Star Bulk Carriers from a “strong sell” rating to a “hold” rating in a report on Friday, August 15th. Finally, Jefferies Financial Group restated a “buy” rating and set a $22.00 target price on shares of Star Bulk Carriers in a report on Thursday, August 7th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Star Bulk Carriers has a consensus rating of “Hold” and an average target price of $21.10.

Star Bulk Carriers Stock Down 1.2%

SBLK stock opened at $17.51 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.61 and a quick ratio of 1.42. The stock has a market capitalization of $2.06 billion, a P/E ratio of 16.68 and a beta of 0.95. The business has a 50-day moving average of $18.67 and a 200-day moving average of $17.40. Star Bulk Carriers has a fifty-two week low of $12.06 and a fifty-two week high of $20.54.

Institutional Investors Weigh In On Star Bulk Carriers

Several hedge funds have recently bought and sold shares of SBLK. Aurora Private Wealth Inc. acquired a new stake in shares of Star Bulk Carriers in the first quarter valued at approximately $893,000. Pekin Hardy Strauss Inc. acquired a new stake in shares of Star Bulk Carriers in the first quarter valued at approximately $394,000. LPL Financial LLC lifted its position in shares of Star Bulk Carriers by 40.8% in the first quarter. LPL Financial LLC now owns 174,623 shares of the shipping company’s stock valued at $2,717,000 after buying an additional 50,599 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in Star Bulk Carriers by 15.1% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 43,102 shares of the shipping company’s stock valued at $671,000 after purchasing an additional 5,640 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its holdings in Star Bulk Carriers by 9.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 100,355 shares of the shipping company’s stock valued at $1,562,000 after purchasing an additional 8,582 shares during the last quarter. 33.91% of the stock is currently owned by institutional investors and hedge funds.

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 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.