Star Bulk Carriers (NASDAQ:SBLK) Share Price Crosses Below 200-Day Moving Average – Should You Sell?

Star Bulk Carriers Corp. (NASDAQ:SBLK) shares crossed below its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $26.62 and traded as low as $26.45. Star Bulk Carriers shares last traded at $26.50, with a volume of 1,850,427 shares.

Wall Street Analysts Forecast Growth

SBLK has been the topic of a number of research reports. Zacks Research lowered Star Bulk Carriers from a “strong-buy” rating to a “hold” rating in a report on Friday, September 18th. Weiss Ratings downgraded Star Bulk Carriers from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, November 2nd. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Star Bulk Carriers has an average rating of “Moderate Buy” and a consensus price target of $31.50.

Star Bulk Carriers Trading Up 0.9%

The firm has a market cap of $3.03 billion, a PE ratio of 10.48, a P/E/G ratio of 0.11 and a beta of 0.85. The company’s fifty day moving average price is $29.75 and its two-hundred day moving average price is $26.65. The company has a quick ratio of 1.74, a current ratio of 1.91 and a debt-to-equity ratio of 0.32.

Star Bulk Carriers (NASDAQ:SBLK) last posted its quarterly earnings results on Wednesday, August 5th. The shipping company reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.26. The firm had revenue of $284.60 million during the quarter, compared to analysts’ expectations of $284.29 million. Star Bulk Carriers had a net margin of 23.87% and a return on equity of 11.72%. As a group, sell-side analysts forecast that Star Bulk Carriers Corp. will post 4.38 earnings per share for the current fiscal year.

Insider Activity at Star Bulk Carriers

In other Star Bulk Carriers news, CFO Symeon Spyrou acquired 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 15th. The shares were purchased at an average price of $28.27 per share, with a total value of $424,050.00. Following the completion of the acquisition, the chief financial officer directly owned 241,200 shares of the company’s stock, valued at approximately $6,818,724. The trade was a 6.63% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Raffaele Zagari acquired 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 15th. The shares were acquired at an average cost of $28.27 per share, for a total transaction of $1,413,500.00. Following the acquisition, the director directly owned 1,953,000 shares of the company’s stock, valued at $55,211,310. This trade represents a 2.63% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have acquired 170,400 shares of company stock worth $4,817,208 and have sold 91,150 shares worth $2,814,345. Company insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On Star Bulk Carriers

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of America Corp DE grew its stake in shares of Star Bulk Carriers by 48.5% during the 1st quarter. Bank of America Corp DE now owns 565,562 shares of the shipping company’s stock worth $12,991,000 after purchasing an additional 184,837 shares during the period. Hsbc Holdings PLC acquired a new stake in shares of Star Bulk Carriers in the first quarter valued at about $909,000. Artemis Investment Management LLP lifted its stake in shares of Star Bulk Carriers by 108.1% in the third quarter. Artemis Investment Management LLP now owns 1,585,263 shares of the shipping company’s stock valued at $46,543,000 after purchasing an additional 823,575 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in shares of Star Bulk Carriers in the second quarter valued at about $1,371,000. Finally, Cooper Creek Partners Management LLC purchased a new stake in Star Bulk Carriers during the first quarter worth about $19,893,000. Institutional investors and hedge funds own 33.91% of the company’s stock.

Star Bulk Carriers Company Profile

Star Bulk Carriers Corp. is a global dry bulk shipping company that owns and operates vessels used to transport commodities such as iron ore, grain, coal, bauxite, fertilizers and other bulk cargoes. Its fleet serves industrial and agricultural supply chains by moving raw materials between ports worldwide.

The company operates several classes of dry bulk vessels, including Capesize, Panamax, Ultramax and Supramax ships. In addition to vessel ownership and operations, Star Bulk provides commercial management, chartering and voyage-related services, coordinating the employment of its vessels in international markets.

Star Bulk was founded in 2006 and is headquartered in Maroussi, Greece.