Star Bulk Carriers (NASDAQ:SBLK) Sets New 1-Year High – Time to Buy?

Star Bulk Carriers Corp. (NASDAQ:SBLK)’s stock price reached a new 52-week high on Tuesday . The company traded as high as $25.82 and last traded at $25.5020, with a volume of 397492 shares changing hands. The stock had previously closed at $25.24.

Analyst Upgrades and Downgrades

Several research firms have commented on SBLK. Zacks Research lowered shares of Star Bulk Carriers from a “strong-buy” rating to a “hold” rating in a report on Friday, January 30th. Weiss Ratings reissued a “hold (c)” rating on shares of Star Bulk Carriers in a research note on Monday, December 29th. Finally, Jefferies Financial Group restated a “buy” rating and set a $22.00 price objective on shares of Star Bulk Carriers in a research report on Wednesday, November 19th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $22.00.

Star Bulk Carriers Stock Performance

The company’s 50-day simple moving average is $21.27 and its 200-day simple moving average is $19.70. The stock has a market capitalization of $3.00 billion, a price-to-earnings ratio of 49.08 and a beta of 0.79. The company has a current ratio of 1.72, a quick ratio of 1.56 and a debt-to-equity ratio of 0.36.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SBLK. USA Financial Formulas acquired a new stake in shares of Star Bulk Carriers in the 4th quarter valued at about $26,000. Triumph Capital Management bought a new position in Star Bulk Carriers in the third quarter worth approximately $26,000. Rhumbline Advisers boosted its holdings in Star Bulk Carriers by 141.7% in the third quarter. Rhumbline Advisers now owns 1,743 shares of the shipping company’s stock worth $32,000 after acquiring an additional 1,022 shares in the last quarter. Sunbelt Securities Inc. bought a new stake in shares of Star Bulk Carriers during the third quarter valued at approximately $33,000. Finally, Leonteq Securities AG acquired a new position in shares of Star Bulk Carriers during the fourth quarter worth approximately $38,000. 33.91% of the stock is owned by institutional investors and hedge funds.

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.