Star Bulk Carriers Corp. (SBLK) Stock Price Up 9.8%
Star Bulk Carriers Corp. (NASDAQ:SBLK)’s share price rose 9.8% during trading on Friday . The stock traded as high as $4.39 and last traded at $4.39, with a volume of 89,932 shares. The stock had previously closed at $4.00.
SBLK has been the topic of several recent research reports. ABN Amro raised Star Bulk Carriers Corp. from an “add” rating to a “buy” rating in a research report on Thursday, April 21st. Zacks Investment Research raised Star Bulk Carriers Corp. from a “hold” rating to a “buy” rating and set a $0.75 price target on the stock in a research report on Friday, May 13th. Deutsche Bank AG reissued a “hold” rating on shares of Star Bulk Carriers Corp. in a research report on Monday, April 4th. Finally, JPMorgan Chase & Co. raised 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 report on Tuesday, July 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $3.30.
The stock has a 50 day moving average of $3.53 and a 200-day moving average of $3.51. The firm’s market cap is $195.60 million.
Star Bulk Carriers Corp. (NASDAQ:SBLK) last posted its quarterly earnings results on Wednesday, June 29th. The company reported ($0.87) earnings per share for the quarter, beating the consensus estimate of ($1.04) by $0.17. The business had revenue of $46.30 million for the quarter. Analysts anticipate that Star Bulk Carriers Corp. will post ($3.01) earnings per share for the current fiscal year.
A hedge fund recently raised its stake in Star Bulk Carriers Corp. stock. Towle & Co. boosted its stake in Star Bulk Carriers Corp. (NASDAQ:SBLK) by 1.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,248,435 shares of the company’s stock after buying an additional 75,949 shares during the period. Star Bulk Carriers Corp. makes up about 0.6% of Towle & Co.’s portfolio, making the stock its 29th largest position. Towle & Co. owned 1.94% of Star Bulk Carriers Corp. worth $2,571,000 as of its most recent filing with the SEC.
Star Bulk Carriers Corp. is a shipping company. The Company owns and operates a fleet of dry bulk carrier vessels. The Company transports a range of major and minor bulk commodities, including ores, coal, grains and fertilizers, along worldwide shipping routes. As of April 6, 2015, the Company’s operating fleet of 68 vessels had an aggregate capacity of approximately 7.1 million deadweight tons (dwt).
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