Star Bulk Carriers (NASDAQ:SBLK) Rating Reiterated by Jefferies Financial Group

Star Bulk Carriers (NASDAQ:SBLK)‘s stock had its “buy” rating reissued by equities research analysts at Jefferies Financial Group in a report issued on Tuesday, Benzinga reports. They currently have a $22.00 target price on the shipping company’s stock. Jefferies Financial Group’s price target suggests a potential upside of 17.02% from the stock’s current price.

SBLK has been the topic of a number of other reports. StockNews.com assumed coverage on Star Bulk Carriers in a report on Thursday, October 5th. They set a “hold” rating on the stock. Stifel Nicolaus dropped their price target on Star Bulk Carriers from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, October 19th.

Star Bulk Carriers Stock Performance

NASDAQ:SBLK opened at $18.80 on Tuesday. The business’s 50-day moving average price is $18.74 and its two-hundred day moving average price is $18.26. Star Bulk Carriers has a twelve month low of $16.57 and a twelve month high of $25.03. The stock has a market cap of $1.94 billion, a P/E ratio of 8.70 and a beta of 0.96. The company has a quick ratio of 1.28, a current ratio of 1.48 and a debt-to-equity ratio of 0.47.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of SBLK. Quarry LP purchased a new position in shares of Star Bulk Carriers in the second quarter worth $25,000. State of Wyoming bought a new stake in Star Bulk Carriers during the second quarter valued at about $28,000. VisionPoint Advisory Group LLC bought a new position in shares of Star Bulk Carriers in the second quarter worth about $30,000. Worth Asset Management LLC bought a new position in shares of Star Bulk Carriers in the first quarter worth about $73,000. Finally, Captrust Financial Advisors boosted its stake in shares of Star Bulk Carriers by 29.2% in the first quarter. Captrust Financial Advisors now owns 2,656 shares of the shipping company’s stock worth $79,000 after acquiring an additional 600 shares during the period. Hedge funds and other institutional investors own 44.66% 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. The company's vessels transport a range of bulk commodities, including iron ores, minerals and grains, bauxite, fertilizers, and steel products. As of December 31, 2022, it had a fleet of 128 dry bulk vessels with an aggregate capacity of approximately 14.1 million deadweight tons, including Newcastlemax, Capesize, Post Panamax, Kamsarmax, Panamax, Ultramax, and Supramax vessels.