Short Interest in Star Bulk Carriers Corp. (NASDAQ:SBLK) Declines By 12.5%

Star Bulk Carriers Corp. (NASDAQ:SBLK) was the target of a significant drop in short interest in the month of January. As of January 30th, there was short interest totaling 1,812,219 shares, a drop of 12.5% from the January 15th total of 2,070,356 shares. Approximately 1.5% of the company’s shares are sold short. Based on an average trading volume of 1,438,601 shares, the days-to-cover ratio is presently 1.3 days. Based on an average trading volume of 1,438,601 shares, the days-to-cover ratio is presently 1.3 days. Approximately 1.5% of the company’s shares are sold short.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SBLK. Zacks Research cut Star Bulk Carriers from a “strong-buy” rating to a “hold” rating in a report on Friday, January 30th. Jefferies Financial Group restated a “buy” rating and issued a $22.00 price objective on shares of Star Bulk Carriers in a report on Wednesday, November 19th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Star Bulk Carriers in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $22.00.

Star Bulk Carriers Price Performance

Shares of SBLK stock opened at $24.71 on Thursday. The stock’s 50-day moving average is $20.86 and its 200 day moving average is $19.57. Star Bulk Carriers has a 1-year low of $12.06 and a 1-year high of $24.94. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.72 and a quick ratio of 1.56. The company has a market cap of $2.91 billion, a P/E ratio of 47.52 and a beta of 0.79.

Hedge Funds Weigh In On Star Bulk Carriers

Several institutional investors and hedge funds have recently bought and sold shares of SBLK. Triumph Capital Management acquired a new stake in shares of Star Bulk Carriers in the 3rd quarter worth $26,000. USA Financial Formulas purchased a new stake in Star Bulk Carriers in the fourth quarter valued at about $26,000. Rhumbline Advisers boosted its holdings in Star Bulk Carriers by 141.7% in the third quarter. Rhumbline Advisers now owns 1,743 shares of the shipping company’s stock worth $32,000 after acquiring an additional 1,022 shares in the last quarter. Sunbelt Securities Inc. purchased a new stake in shares of Star Bulk Carriers during the third quarter worth about $33,000. Finally, Morse Asset Management Inc purchased a new stake in shares of Star Bulk Carriers during the third quarter worth about $37,000. 33.91% of the stock is owned by hedge funds and other institutional investors.

About Star Bulk Carriers

Star Bulk Carriers Corp is a global shipping company engaged in the ocean transport of dry bulk commodities. The company owns and operates a diversified fleet of bulk carriers, including Handymax, Supramax, Panamax and Capesize vessels. Its ships are designed to carry a broad range of cargoes, such as iron ore, coal, grain, bauxite and phosphate, catering to industrial and agricultural customers worldwide.

The company’s vessels operate on major trade routes across the Atlantic, Pacific and Indian Oceans, connecting producers and consumers in Asia, Europe, North and South America.