Star Bulk Carriers Corp. (NASDAQ:SBLK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Friday. The firm presently has a $12.00 target price on the shipping company’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 14.61% from the company’s current price.

According to Zacks, “STAR BULK is a global shipping company providing worldwide seaborne transportation solutions in the dry bulk sector. Star Bulk’s vessels transport major bulks, which include iron ore, coal and grain and minor bulks such as bauxite, fertilizers and steel products. Star Bulk was incorporated in the Marshall Islands and is headquartered in Athens, Greece. Its common stock and warrants trade on the NASDAQ Global Market under the symbols SBLK and SBLKW respectively. Currently, Star Bulk has an operating fleet of nine dry bulk carriers, plus definitive agreement to acquire two further dry bulk carriers. “

Other equities research analysts also recently issued research reports about the stock. TheStreet raised shares of Star Bulk Carriers Corp. from a “d+” rating to a “c” rating in a report on Wednesday, August 9th. BidaskClub raised shares of Star Bulk Carriers Corp. from a “sell” rating to a “hold” rating in a report on Monday, August 14th. Pareto Securities raised shares of Star Bulk Carriers Corp. from a “hold” rating to a “buy” rating in a report on Friday, September 8th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $15.00 target price on shares of Star Bulk Carriers Corp. in a report on Thursday. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $13.00.

Shares of Star Bulk Carriers Corp. (NASDAQ SBLK) traded up 1.45% during mid-day trading on Friday, reaching $10.47. The company had a trading volume of 664,500 shares. The stock has a 50 day moving average price of $10.44 and a 200 day moving average price of $9.87. The firm’s market capitalization is $663.96 million. Star Bulk Carriers Corp. has a 12-month low of $4.04 and a 12-month high of $13.40.

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Hedge funds have recently added to or reduced their stakes in the business. Neuberger Berman Group LLC boosted its holdings in shares of Star Bulk Carriers Corp. by 3.5% in the 2nd quarter. Neuberger Berman Group LLC now owns 31,146 shares of the shipping company’s stock valued at $306,000 after purchasing an additional 1,052 shares during the last quarter. Westpac Banking Corp boosted its holdings in shares of Star Bulk Carriers Corp. by 13.8% in the 2nd quarter. Westpac Banking Corp now owns 31,820 shares of the shipping company’s stock valued at $313,000 after purchasing an additional 3,859 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Star Bulk Carriers Corp. by 12.8% in the 2nd quarter. Goldman Sachs Group Inc. now owns 49,515 shares of the shipping company’s stock valued at $487,000 after purchasing an additional 5,619 shares during the last quarter. Capital Fund Management S.A. acquired a new position in shares of Star Bulk Carriers Corp. in the 2nd quarter valued at $103,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Star Bulk Carriers Corp. in the 2nd quarter valued at $110,000. 73.77% of the stock is owned by hedge funds and other institutional investors.

About Star Bulk Carriers Corp.

Star Bulk Carriers Corp. is an international shipping company. The Company owns and operates a fleet of dry bulk carrier vessels. As of December 31, 2016, the Company’s fleet included 73 vessels consisting primarily of Newcastlemax and Capesize, as well as Kamsarmax, Ultramax and Supramax vessels with a carrying capacity between 52,055 and 209,537 deadweight tonnage (dwt).

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Analyst Recommendations for Star Bulk Carriers Corp. (NASDAQ:SBLK)

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