Star Bulk Carriers Corp. (NASDAQ:SBLK) Sees Large Drop in Short Interest

Star Bulk Carriers Corp. (NASDAQ:SBLK) was the recipient of a large decrease in short interest in January. As of January 30th, there was short interest totaling 1,812,219 shares, a decrease of 12.5% from the January 15th total of 2,070,356 shares. Based on an average daily volume of 1,438,601 shares, the short-interest ratio is presently 1.3 days. Currently, 1.5% of the shares of the company are short sold. Currently, 1.5% of the shares of the company are short sold. Based on an average daily volume of 1,438,601 shares, the short-interest ratio is presently 1.3 days.

Star Bulk Carriers Stock Up 2.5%

NASDAQ SBLK opened at $23.80 on Tuesday. The business has a fifty day moving average price of $20.67 and a two-hundred day moving average price of $19.49. The stock has a market capitalization of $2.80 billion, a PE ratio of 45.77 and a beta of 0.79. Star Bulk Carriers has a fifty-two week low of $12.06 and a fifty-two week high of $24.30. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.72 and a quick ratio of 1.56.

Analyst Ratings Changes

SBLK has been the subject of a number of analyst reports. Jefferies Financial Group reiterated a “buy” rating and issued a $22.00 price target on shares of Star Bulk Carriers in a research report on Wednesday, November 19th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Star Bulk Carriers in a report on Monday, December 29th. Finally, Zacks Research lowered Star Bulk Carriers from a “strong-buy” rating to a “hold” rating in a report on Friday, January 30th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $22.00.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SBLK. BNP Paribas Financial Markets boosted its stake in shares of Star Bulk Carriers by 4.7% in the 2nd quarter. BNP Paribas Financial Markets now owns 13,695 shares of the shipping company’s stock valued at $236,000 after purchasing an additional 616 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in Star Bulk Carriers by 20.9% in the third quarter. Public Employees Retirement System of Ohio now owns 4,114 shares of the shipping company’s stock valued at $76,000 after buying an additional 712 shares in the last quarter. Jones Financial Companies Lllp grew its stake in shares of Star Bulk Carriers by 50.8% during the third quarter. Jones Financial Companies Lllp now owns 2,381 shares of the shipping company’s stock worth $46,000 after buying an additional 802 shares during the last quarter. Vident Advisory LLC increased its holdings in shares of Star Bulk Carriers by 5.6% during the third quarter. Vident Advisory LLC now owns 16,902 shares of the shipping company’s stock worth $314,000 after buying an additional 891 shares in the last quarter. Finally, Commonwealth Equity Services LLC lifted its stake in shares of Star Bulk Carriers by 8.6% in the 4th quarter. Commonwealth Equity Services LLC now owns 12,399 shares of the shipping company’s stock valued at $238,000 after acquiring an additional 983 shares during 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 is a global shipping company engaged in the ocean transport of dry bulk commodities. The company owns and operates a diversified fleet of bulk carriers, including Handymax, Supramax, Panamax and Capesize vessels. Its ships are designed to carry a broad range of cargoes, such as iron ore, coal, grain, bauxite and phosphate, catering to industrial and agricultural customers worldwide.

The company’s vessels operate on major trade routes across the Atlantic, Pacific and Indian Oceans, connecting producers and consumers in Asia, Europe, North and South America.