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

Star Bulk Carriers Corp. (NASDAQ:SBLK - Get Free Report) was the recipient of a significant decline in short interest in April. As of April 15th, there was short interest totalling 1,930,000 shares, a decline of 62.3% from the March 31st total of 5,120,000 shares. Based on an average daily trading volume, of 1,580,000 shares, the days-to-cover ratio is presently 1.2 days.

Star Bulk Carriers Price Performance

SBLK traded up $0.29 during trading on Friday, reaching $24.71. 1,315,816 shares of the stock were exchanged, compared to its average volume of 1,686,426. The business's 50 day moving average price is $23.76 and its two-hundred day moving average price is $21.62. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.26 and a quick ratio of 1.09. The company has a market capitalization of $2.08 billion, a price-to-earnings ratio of 13.96 and a beta of 1.12. Star Bulk Carriers has a 1 year low of $16.57 and a 1 year high of $25.16.

Star Bulk Carriers (NASDAQ:SBLK - Get Free Report) last posted its earnings results on Tuesday, February 13th. The shipping company reported $0.73 EPS for the quarter, topping analysts' consensus estimates of $0.57 by $0.16. The company had revenue of $263.46 million for the quarter, compared to the consensus estimate of $236.40 million. Star Bulk Carriers had a return on equity of 9.77% and a net margin of 18.28%. During the same period in the previous year, the business earned $0.90 earnings per share. As a group, equities research analysts anticipate that Star Bulk Carriers will post 4.19 earnings per share for the current year.

Star Bulk Carriers Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Tuesday, March 12th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 7.28%. This is an increase from Star Bulk Carriers's previous quarterly dividend of $0.22. The ex-dividend date was Monday, March 11th. Star Bulk Carriers's payout ratio is presently 101.69%.

Analysts Set New Price Targets

Separately, Stifel Nicolaus lifted their price target on Star Bulk Carriers from $76.00 to $83.00 and gave the company a "buy" rating in a research note on Wednesday, February 14th.

Institutional Trading of Star Bulk Carriers

Institutional investors have recently bought and sold shares of the company. Atlas Capital Advisors LLC purchased a new stake in Star Bulk Carriers during the first quarter worth $36,000. VisionPoint Advisory Group LLC purchased a new stake in shares of Star Bulk Carriers in the fourth quarter valued at $36,000. Principal Securities Inc. purchased a new stake in shares of Star Bulk Carriers in the fourth quarter valued at $40,000. Creekmur Asset Management LLC purchased a new stake in shares of Star Bulk Carriers in the fourth quarter valued at $50,000. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Star Bulk Carriers in the third quarter valued at $83,000. 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.