Star Bulk Carriers (NASDAQ:SBLK) Stock Price Crosses Above 200 Day Moving Average – Should You Sell?

Star Bulk Carriers Corp. (NASDAQ:SBLK) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $19.49 and traded as high as $23.86. Star Bulk Carriers shares last traded at $23.80, with a volume of 602,484 shares changing hands.

Wall Street Analysts Forecast Growth

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

Star Bulk Carriers Price Performance

The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.56 and a current ratio of 1.72. The company has a market capitalization of $2.80 billion, a P/E ratio of 45.77 and a beta of 0.79. The firm’s fifty day moving average is $20.67 and its 200 day moving average is $19.49.

Star Bulk Carriers Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Friday, December 5th were issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Friday, December 5th. This is an increase from Star Bulk Carriers’s previous quarterly dividend of $0.05. Star Bulk Carriers’s dividend payout ratio (DPR) is presently 84.62%.

Institutional Trading of Star Bulk Carriers

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Triumph Capital Management purchased a new stake in shares of Star Bulk Carriers during the third quarter valued at $26,000. USA Financial Formulas bought a new stake in Star Bulk Carriers during the 4th quarter valued at about $26,000. Rhumbline Advisers lifted its holdings in Star Bulk Carriers by 141.7% during the 3rd quarter. Rhumbline Advisers now owns 1,743 shares of the shipping company’s stock valued at $32,000 after buying an additional 1,022 shares in the last quarter. Sunbelt Securities Inc. purchased a new stake in Star Bulk Carriers in the 3rd quarter valued at about $33,000. Finally, Morse Asset Management Inc bought a new position in Star Bulk Carriers in the 3rd quarter worth about $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.