Star Bulk Carriers Corp. (SBLK) Stock Price Down 6.3%
Star Bulk Carriers Corp. (NASDAQ:SBLK) shares fell 6.3% during mid-day trading on Friday . The company traded as low as $4.16 and last traded at $4.17, with a volume of 99,061 shares changing hands. The stock had previously closed at $4.45.
SBLK has been the subject of a number of research reports. Zacks Investment Research cut Star Bulk Carriers Corp. from a “buy” rating to a “hold” rating in a research report on Saturday, June 18th. Deutsche Bank AG reiterated a “hold” rating on shares of Star Bulk Carriers Corp. in a research report on Monday, April 4th. JPMorgan Chase & Co. upgraded 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, July 19th. Finally, ABN Amro upgraded Star Bulk Carriers Corp. from an “add” rating to a “buy” rating in a research report on Thursday, April 21st. One 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’s stock. The company currently has a consensus rating of “Hold” and an average price target of $3.30.
The company’s market capitalization is $183.29 million. The company has a 50 day moving average price of $3.52 and a 200 day moving average price of $3.45.
Star Bulk Carriers Corp. (NASDAQ:SBLK) last announced its quarterly earnings results on Wednesday, June 29th. The company reported ($0.87) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($1.04) by $0.17. The company earned $46.30 million during the quarter. On average, equities analysts expect that Star Bulk Carriers Corp. will post ($3.01) EPS for the current year.
An institutional investor recently raised its position in Star Bulk Carriers Corp. stock. Towle & Co. boosted its position in Star Bulk Carriers Corp. (NASDAQ:SBLK) by 1.8% during the fourth quarter, according to its most recent disclosure with the 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. comprises approximately 0.6% of Towle & Co.’s portfolio, making the stock its 29th largest position. Towle & Co. owned about 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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