Star Bulk Carriers (NASDAQ:SBLK) Cut to “Strong Sell” at ValuEngine

Star Bulk Carriers (NASDAQ:SBLK) was downgraded by investment analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a report issued on Tuesday, ValuEngine reports.

Several other equities research analysts have also recently commented on the company. Zacks Investment Research upgraded Star Bulk Carriers from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research note on Thursday, October 10th. BidaskClub cut Star Bulk Carriers from a “hold” rating to a “sell” rating in a research note on Tuesday, November 12th. TheStreet cut Star Bulk Carriers from a “c-” rating to a “d” rating in a research note on Friday, August 9th. Finally, Pareto Securities cut Star Bulk Carriers from a “buy” rating to a “hold” rating in a research note on Wednesday, November 13th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. Star Bulk Carriers presently has an average rating of “Hold” and an average price target of $13.50.

NASDAQ:SBLK opened at $10.05 on Tuesday. Star Bulk Carriers has a fifty-two week low of $6.16 and a fifty-two week high of $11.81. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.82 and a quick ratio of 0.64. The stock has a market capitalization of $888.07 million, a PE ratio of 9.05 and a beta of 1.64. The business’s 50-day simple moving average is $10.66 and its 200-day simple moving average is $9.68.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cubist Systematic Strategies LLC bought a new stake in Star Bulk Carriers in the 2nd quarter valued at approximately $139,000. Sippican Capital Advisors raised its stake in shares of Star Bulk Carriers by 14.1% during the 2nd quarter. Sippican Capital Advisors now owns 20,735 shares of the shipping company’s stock worth $200,000 after purchasing an additional 2,557 shares in the last quarter. Impala Asset Management LLC raised its stake in shares of Star Bulk Carriers by 4.9% during the 2nd quarter. Impala Asset Management LLC now owns 3,810,325 shares of the shipping company’s stock worth $36,770,000 after purchasing an additional 178,799 shares in the last quarter. Cetera Advisor Networks LLC bought a new stake in shares of Star Bulk Carriers during the 2nd quarter worth approximately $120,000. Finally, Advisor Group Inc. raised its stake in shares of Star Bulk Carriers by 839.5% during the 2nd quarter. Advisor Group Inc. now owns 3,570 shares of the shipping company’s stock worth $34,000 after purchasing an additional 3,190 shares in the last quarter. Hedge funds and other institutional investors own 57.05% of the company’s stock.

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 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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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