Star Bulk Carriers Corp. (SBLK) Sees Significant Drop in Short Interest
Star Bulk Carriers Corp. (NASDAQ:SBLK) was the recipient of a large decline in short interest in September. As of September 15th, there was short interest totalling 585,597 shares, a decline of 33.7% from the August 31st total of 883,653 shares. Based on an average trading volume of 180,295 shares, the short-interest ratio is presently 3.2 days. Currently, 1.3% of the shares of the stock are short sold.
Several equities analysts have weighed in on the company. Jefferies Group reaffirmed a “buy” rating and issued a $6.00 price objective (up from $5.00) on shares of Star Bulk Carriers Corp. in a report on Friday, September 16th. Zacks Investment Research lowered Star Bulk Carriers Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, September 7th. Seaport Global Securities reiterated a “neutral” rating and issued a $4.00 price target on shares of Star Bulk Carriers Corp. in a research note on Tuesday, August 2nd. Deutsche Bank AG reiterated a “hold” rating on shares of Star Bulk Carriers Corp. in a research note on Wednesday. Finally, JPMorgan Chase & Co. upgraded Star Bulk Carriers Corp. from a “neutral” rating to an “overweight” rating and set a $6.50 price target on the stock in a research note on Tuesday, July 19th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $4.00.
A hedge fund recently raised its stake in Star Bulk Carriers Corp. stock. Geode Capital Management LLC boosted its stake in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK) by 64.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 136,746 shares of the company’s stock after buying an additional 53,743 shares during the period. Geode Capital Management LLC owned approximately 0.06% of Star Bulk Carriers Corp. worth $102,000 at the end of the most recent reporting period. 75.53% of the stock is currently owned by institutional investors and hedge funds.
Shares of Star Bulk Carriers Corp. (NASDAQ:SBLK) opened at 4.54 on Friday. Star Bulk Carriers Corp. has a 12 month low of $1.55 and a 12 month high of $12.00. The company’s 50-day moving average price is $4.50 and its 200-day moving average price is $4.07. The company’s market cap is $199.56 million.
Star Bulk Carriers Corp. (NASDAQ:SBLK) last announced its quarterly earnings data on Wednesday, September 14th. The company reported ($0.69) earnings per share for the quarter, missing the consensus estimate of ($0.66) by $0.03. Star Bulk Carriers Corp. had a negative net margin of 187.42% and a negative return on equity of 10.28%. The firm had revenue of $52.65 million for the quarter. Analysts anticipate that Star Bulk Carriers Corp. will post ($2.56) EPS for the current year.
About Star Bulk Carriers Corp.
Star Bulk Carriers Corp. is an international shipping company. The Company owns and operates a fleet of dry bulk carrier vessels. The Company’s segment is operating dry bulk vessels. The Company will have a fleet of approximately 76 vessels consisting primarily of Newcastlemax and Capesize, as well as Kamsarmax, Ultramax and Supramax vessels, with a carrying capacity between 45,588 dwt and 209,537 deadweight tonnage (dwt).
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