Star Bulk Carriers Corp. (NASDAQ:SBLK) Short Interest Down 12.5% in January

Star Bulk Carriers Corp. (NASDAQ:SBLK) was the target of a significant decline in short interest during the month of January. As of January 30th, there was short interest totaling 1,812,219 shares, a decline of 12.5% from the January 15th total of 2,070,356 shares. Approximately 1.5% of the company’s stock are sold short. Based on an average trading volume of 1,438,601 shares, the days-to-cover ratio is currently 1.3 days. Based on an average trading volume of 1,438,601 shares, the days-to-cover ratio is currently 1.3 days. Approximately 1.5% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

SBLK has been the subject of several recent analyst reports. Zacks Research downgraded Star Bulk Carriers from a “strong-buy” rating to a “hold” rating in a report on Friday, January 30th. Weiss Ratings reiterated 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 note on Wednesday, November 19th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $22.00.

Institutional Investors Weigh In On Star Bulk Carriers

A number of institutional investors have recently made changes to their positions in SBLK. Verition Fund Management LLC increased its stake in shares of Star Bulk Carriers by 73.3% during the fourth quarter. Verition Fund Management LLC now owns 143,701 shares of the shipping company’s stock worth $2,762,000 after purchasing an additional 60,771 shares during the period. Focus Partners Wealth increased its position in Star Bulk Carriers by 4.3% during the 4th quarter. Focus Partners Wealth now owns 1,041,252 shares of the shipping company’s stock worth $19,391,000 after buying an additional 43,158 shares during the period. Impala Asset Management LLC lifted its holdings in shares of Star Bulk Carriers by 39.2% during the fourth quarter. Impala Asset Management LLC now owns 167,000 shares of the shipping company’s stock worth $3,210,000 after buying an additional 47,000 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of Star Bulk Carriers in the fourth quarter valued at about $1,843,000. Finally, Bridgewater Associates LP grew its stake in shares of Star Bulk Carriers by 670.5% in the fourth quarter. Bridgewater Associates LP now owns 604,686 shares of the shipping company’s stock valued at $11,622,000 after acquiring an additional 526,203 shares in the last quarter. Institutional investors own 33.91% of the company’s stock.

Star Bulk Carriers Trading Up 2.5%

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

About Star Bulk Carriers

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.