Star Bulk Carriers Corp. (NASDAQ:SBLK) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday.

According to Zacks, “STAR BULK is a global shipping company providing worldwide seaborne transportation solutions in the dry bulk sector. Star Bulk’s vessels transport major bulks, which include iron ore, coal and grain and minor bulks such as bauxite, fertilizers and steel products. Star Bulk was incorporated in the Marshall Islands and is headquartered in Athens, Greece. Its common stock and warrants trade on the NASDAQ Global Market under the symbols SBLK and SBLKW respectively. Currently, Star Bulk has an operating fleet of nine dry bulk carriers, plus definitive agreement to acquire two further dry bulk carriers. “

Several other brokerages have also recently commented on SBLK. Pareto Securities upgraded shares of Star Bulk Carriers Corp. from a “hold” rating to a “buy” rating in a research note on Friday, September 8th. BidaskClub upgraded shares of Star Bulk Carriers Corp. from a “sell” rating to a “hold” rating in a research note on Monday, August 14th. TheStreet upgraded shares of Star Bulk Carriers Corp. from a “d+” rating to a “c” rating in a research note on Wednesday, August 9th. Stifel Nicolaus set a $11.00 price target on shares of Star Bulk Carriers Corp. and gave the stock a “hold” rating in a research note on Sunday, May 28th. Finally, Seaport Global Securities upgraded shares of Star Bulk Carriers Corp. from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $11.50 to $13.00 in a research note on Friday, May 26th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company’s stock. Star Bulk Carriers Corp. currently has a consensus rating of “Buy” and a consensus price target of $12.50.

Star Bulk Carriers Corp. (NASDAQ SBLK) traded down 0.29% during midday trading on Wednesday, reaching $10.46. The company’s stock had a trading volume of 112,326 shares. Star Bulk Carriers Corp. has a one year low of $4.04 and a one year high of $13.40. The firm has a 50 day moving average price of $10.88 and a 200 day moving average price of $9.92. The firm’s market cap is $662.49 million.

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Hedge funds have recently made changes to their positions in the business. Caspian Capital LP raised its position in shares of Star Bulk Carriers Corp. by 10.7% during the 2nd quarter. Caspian Capital LP now owns 3,167,787 shares of the shipping company’s stock valued at $31,139,000 after buying an additional 306,341 shares in the last quarter. Impala Asset Management LLC raised its position in shares of Star Bulk Carriers Corp. by 248.4% during the 2nd quarter. Impala Asset Management LLC now owns 1,946,775 shares of the shipping company’s stock valued at $19,137,000 after buying an additional 1,387,975 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Star Bulk Carriers Corp. by 233.3% during the 1st quarter. Renaissance Technologies LLC now owns 576,599 shares of the shipping company’s stock valued at $6,850,000 after buying an additional 403,619 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Star Bulk Carriers Corp. during the 2nd quarter valued at about $4,046,000. Finally, River & Mercantile Asset Management LLP raised its position in shares of Star Bulk Carriers Corp. by 57.9% during the 2nd quarter. River & Mercantile Asset Management LLP now owns 298,819 shares of the shipping company’s stock valued at $2,934,000 after buying an additional 109,600 shares in the last quarter. Institutional investors and hedge funds own 75.03% of the company’s stock.

About Star Bulk Carriers Corp.

Star Bulk Carriers Corp. is an international shipping company. The Company owns and operates a fleet of dry bulk carrier vessels. As of December 31, 2016, the Company’s fleet included 73 vessels consisting primarily of Newcastlemax and Capesize, as well as Kamsarmax, Ultramax and Supramax vessels with a carrying capacity between 52,055 and 209,537 deadweight tonnage (dwt).

Analyst Recommendations for Star Bulk Carriers Corp. (NASDAQ:SBLK)

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