Short Interest in Star Bulk Carriers Corp. (NASDAQ:SBLK) Rises By 19.4%

Star Bulk Carriers Corp. (NASDAQ:SBLK) was the recipient of a significant growth in short interest during the month of January. As of January 15th, there was short interest totaling 2,070,356 shares, a growth of 19.4% from the December 31st total of 1,733,952 shares. Based on an average daily trading volume, of 1,336,903 shares, the days-to-cover ratio is presently 1.5 days. Currently, 1.8% of the company’s shares are sold short. Currently, 1.8% of the company’s shares are sold short. Based on an average daily trading volume, of 1,336,903 shares, the days-to-cover ratio is presently 1.5 days.

Star Bulk Carriers Stock Performance

Shares of SBLK stock opened at $22.30 on Thursday. The firm has a market capitalization of $2.62 billion, a price-to-earnings ratio of 42.89 and a beta of 0.79. The stock has a fifty day moving average of $20.16 and a 200 day moving average of $19.23. Star Bulk Carriers has a 52 week low of $12.06 and a 52 week high of $23.27. The company has a quick ratio of 1.56, a current ratio of 1.72 and a debt-to-equity ratio of 0.36.

Star Bulk Carriers Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 18th. Shareholders of record on Friday, December 5th were given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Friday, December 5th. This is a positive change from Star Bulk Carriers’s previous quarterly dividend of $0.05. Star Bulk Carriers’s payout ratio is presently 84.62%.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Triumph Capital Management purchased a new stake in Star Bulk Carriers in the third quarter worth $26,000. USA Financial Formulas bought a new stake in Star Bulk Carriers during the fourth quarter worth about $26,000. Rhumbline Advisers grew 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 purchasing an additional 1,022 shares during the period. Sunbelt Securities Inc. bought a new position in shares of Star Bulk Carriers during the third quarter valued at approximately $33,000. Finally, Morse Asset Management Inc purchased a new position in shares of Star Bulk Carriers during the third quarter valued at approximately $37,000. Hedge funds and other institutional investors 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.