Star Bulk Carriers (NASDAQ:SBLK) Given Hold (C-) Rating at Weiss Ratings

Key Points

• Star Bulk Carriers received a "hold (C-)" rating from Weiss Ratings, which indicates a cautious stance on the stock's performance.
• The stock's average target price is currently set at $21.07, with a consensus rating of "Hold" among analysts after various adjustments in ratings from several financial institutions.
• Shares of Star Bulk Carriers closed at $18.02, having fluctuated between a low of $12.06 and a high of $21.75 within the past year.

Star Bulk Carriers (NASDAQ:SBLK - Get Free Report)'s stock had its "hold (c-)" rating reiterated by Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

SBLK has been the topic of a number of other research reports. Wall Street Zen raised shares of Star Bulk Carriers from a "sell" rating to a "hold" rating in a research report on Sunday, August 10th. Jefferies Financial Group reissued a "buy" rating and issued a $22.00 price target on shares of Star Bulk Carriers in a report on Thursday, August 7th. Finally, Zacks Research raised shares of Star Bulk Carriers from a "strong sell" rating to a "hold" rating in a report on Friday, August 15th. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Star Bulk Carriers presently has a consensus rating of "Hold" and an average target price of $21.07.

Star Bulk Carriers Trading Down 2.2%

Shares of SBLK stock opened at $18.02 on Wednesday. Star Bulk Carriers has a 1 year low of $12.06 and a 1 year high of $21.75. The firm's fifty day simple moving average is $18.99 and its 200 day simple moving average is $17.15. The firm has a market capitalization of $2.12 billion, a P/E ratio of 17.16 and a beta of 0.95. The company has a current ratio of 1.61, a quick ratio of 1.42 and a debt-to-equity ratio of 0.40.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Alliancebernstein L.P. acquired a new position in Star Bulk Carriers during the 2nd quarter worth about $64,949,000. Kingstone Capital Partners Texas LLC acquired a new position in Star Bulk Carriers during the 2nd quarter worth about $57,227,000. Amundi lifted its position in Star Bulk Carriers by 59.1% during the 1st quarter. Amundi now owns 1,868,249 shares of the shipping company's stock worth $26,548,000 after buying an additional 693,683 shares in the last quarter. Ameriprise Financial Inc. lifted its position in Star Bulk Carriers by 7.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,627,325 shares of the shipping company's stock worth $28,058,000 after buying an additional 107,069 shares in the last quarter. Finally, Philosophy Capital Management LLC lifted its position in Star Bulk Carriers by 10.1% during the 1st quarter. Philosophy Capital Management LLC now owns 1,519,259 shares of the shipping company's stock worth $23,640,000 after buying an additional 139,930 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.

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