Star Bulk Carriers Corp. (SBLK) Sees Large Volume Increase
Star Bulk Carriers Corp. (NASDAQ:SBLK) shares saw strong trading volume on Tuesday . 173,536 shares traded hands during trading, an increase of 57% from the previous session’s volume of 110,525 shares.The stock last traded at $4.13 and had previously closed at $3.86.
A number of equities analysts recently issued reports on the stock. JPMorgan Chase & Co. upgraded shares of Star Bulk Carriers Corp. from a “neutral” rating to an “overweight” rating and set a $6.50 price objective for the company in a research report on Tuesday. Zacks Investment Research lowered shares of Star Bulk Carriers Corp. from a “buy” rating to a “hold” rating in a report on Friday, June 10th. Deutsche Bank AG reissued a “hold” rating on shares of Star Bulk Carriers Corp. in a report on Monday, April 4th. Finally, ABN Amro raised shares of Star Bulk Carriers Corp. from an “add” rating to a “buy” rating in a report on Thursday, April 21st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $3.30.
The company’s 50 day moving average price is $3.48 and its 200-day moving average price is $3.42. The stock’s market cap is $178.46 million.
Star Bulk Carriers Corp. (NASDAQ:SBLK) last released its quarterly earnings data on Wednesday, June 29th. The company reported ($0.87) EPS for the quarter, beating analysts’ consensus estimates of ($1.04) by $0.17. The firm earned $46.30 million during the quarter. On average, equities research analysts anticipate that Star Bulk Carriers Corp. will post ($2.66) earnings per share for the current year.
An institutional investor recently raised its position in Star Bulk Carriers Corp. stock. Towle & Co. boosted its position in shares of 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 0.6% of Towle & Co.’s investment portfolio, making the stock its 29th largest position. Towle & Co. owned about 1.94% of Star Bulk Carriers Corp. worth $2,571,000 at the end of the most recent reporting period.
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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