Star Bulk Carriers (NASDAQ:SBLK) Shares Down 7.6%

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Star Bulk Carriers Corp. (NASDAQ:SBLK) shares traded down 7.6% on Friday . The company traded as low as $9.59 and last traded at $9.67, 681,663 shares traded hands during trading. An increase of 19% from the average session volume of 574,016 shares. The stock had previously closed at $10.46.

A number of equities research analysts have recently weighed in on the stock. TheStreet lowered shares of Star Bulk Carriers from a “c-” rating to a “d” rating in a research note on Friday, August 9th. BidaskClub raised shares of Star Bulk Carriers from a “hold” rating to a “buy” rating in a research note on Friday. Deutsche Bank set a $15.00 target price on shares of Star Bulk Carriers and gave the company a “buy” rating in a research note on Friday, May 24th. ValuEngine raised shares of Star Bulk Carriers from a “sell” rating to a “hold” rating in a research note on Monday, July 22nd. Finally, Zacks Investment Research lowered shares of Star Bulk Carriers from a “strong-buy” rating to a “hold” rating in a research note on Saturday, August 17th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $16.00.

The company has a debt-to-equity ratio of 0.84, a current ratio of 1.34 and a quick ratio of 1.22. The firm’s 50 day moving average is $10.03 and its 200 day moving average is $8.37. The firm has a market cap of $965.30 million, a P/E ratio of 28.27 and a beta of 1.83.

Star Bulk Carriers (NASDAQ:SBLK) last posted its quarterly earnings data on Wednesday, August 7th. The shipping company reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.09. Star Bulk Carriers had a negative net margin of 0.99% and a positive return on equity of 2.09%. The business had revenue of $157.79 million for the quarter, compared to analyst estimates of $137.11 million. As a group, analysts expect that Star Bulk Carriers Corp. will post 0.18 EPS for the current year.

A number of large investors have recently bought and sold shares of SBLK. Advisor Group Inc. boosted its stake in Star Bulk Carriers by 839.5% during the second quarter. Advisor Group Inc. now owns 3,570 shares of the shipping company’s stock worth $34,000 after acquiring an additional 3,190 shares in the last quarter. Marshall Wace North America L.P. bought a new stake in Star Bulk Carriers during the first quarter worth about $47,000. Wells Fargo & Company MN bought a new stake in Star Bulk Carriers during the second quarter worth about $102,000. Quantitative Systematic Strategies LLC bought a new stake in Star Bulk Carriers during the second quarter worth about $109,000. Finally, Cetera Advisor Networks LLC bought a new position in shares of Star Bulk Carriers in the second quarter worth approximately $120,000. 56.62% of the stock is currently owned by institutional investors and hedge funds.

Star Bulk Carriers Company Profile (NASDAQ:SBLK)

Star Bulk Carriers Corp., a shipping company, engages in the ocean transportation of dry bulk cargoes worldwide. Its vessels transport a range of major bulks, including iron ores, coal, and grains, as well as minor bulks, such as bauxite, fertilizers, and steel products. As of April 10, 2019, the company had a fleet of 109 vessels with an aggregate capacity of approximately 12.45 million deadweight ton, including 17 Newcastlemax, 19 Capesize, 2 Mini Capesize, 7 Post Panamax, 35 Kamsarmax, 2 Panamax, 17 Ultramax, and 10 Supramax vessels.

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