Star Bulk Carriers Corp. (SBLK) Trading 6.3% Higher
Star Bulk Carriers Corp. (NASDAQ:SBLK) shares traded up 6.3% during mid-day trading on Monday . The company traded as high as $3.88 and last traded at $3.88, with a volume of 57,215 shares changing hands. The stock had previously closed at $3.65.
A number of research analysts have issued reports on the company. Zacks Investment Research raised Star Bulk Carriers Corp. from a “hold” rating to a “buy” rating and set a $3.50 target price for the company in a research note on Friday, June 24th. ABN Amro raised Star Bulk Carriers Corp. from an “add” rating to a “buy” rating in a research report on Thursday, April 21st. Finally, Deutsche Bank AG reaffirmed a “hold” rating on shares of Star Bulk Carriers Corp. in a research report on Monday, April 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. Star Bulk Carriers Corp. currently has an average rating of “Hold” and an average target price of $2.50.
The company’s 50-day moving average is $3.48 and its 200 day moving average is $3.42. The company’s market capitalization is $169.45 million.
Star Bulk Carriers Corp. (NASDAQ:SBLK) last announced its earnings results on Wednesday, June 29th. The company reported ($0.87) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.04) by $0.17. The company had revenue of $46.30 million for the quarter. Equities analysts predict that Star Bulk Carriers Corp. will post ($2.66) EPS for the current fiscal year.
An institutional investor recently raised its position in Star Bulk Carriers Corp. stock. Towle & Co. increased its stake in Star Bulk Carriers Corp. (NASDAQ:SBLK) by 1.8% during the fourth quarter, according to its most recent Form 13F 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. accounts for approximately 0.6% of Towle & Co.’s holdings, 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 SEC filing.
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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