The Star Bulk Carriers Corp. (SBLK) Upgraded at Zacks Investment Research

The Star Bulk Carriers Corp. (SBLK) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Star Bulk Carriers Corp. (NASDAQ:SBLK) from a sell rating to a hold rating in a report issued on Wednesday morning.

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 research analysts have also recently issued reports on SBLK. BidaskClub cut shares of Star Bulk Carriers Corp. from a hold rating to a sell rating in a report on Thursday, July 27th. TheStreet upgraded shares of Star Bulk Carriers Corp. from a d+ rating to a c rating in a report on Wednesday, August 9th. Finally, Pareto Securities upgraded shares of Star Bulk Carriers Corp. from a hold rating to a buy rating in a report on Friday, September 8th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of $12.80.

Shares of Star Bulk Carriers Corp. (NASDAQ SBLK) opened at 10.22 on Wednesday. The firm’s market capitalization is $648.10 million. Star Bulk Carriers Corp. has a 52-week low of $4.04 and a 52-week high of $13.40. The stock’s 50 day moving average is $10.55 and its 200-day moving average is $9.90.

A number of hedge funds have recently added to or reduced their stakes in SBLK. Impala Asset Management LLC lifted its stake in Star Bulk Carriers Corp. by 248.4% during the second quarter. Impala Asset Management LLC now owns 1,946,775 shares of the shipping company’s stock valued at $19,137,000 after purchasing an additional 1,387,975 shares during the last quarter. Marshall Wace LLP acquired a new stake in Star Bulk Carriers Corp. during the second quarter valued at approximately $4,046,000. Renaissance Technologies LLC lifted its stake in Star Bulk Carriers Corp. by 233.3% during the first quarter. Renaissance Technologies LLC now owns 576,599 shares of the shipping company’s stock valued at $6,850,000 after purchasing an additional 403,619 shares during the last quarter. Caspian Capital LP lifted its stake in Star Bulk Carriers Corp. by 10.7% during the second quarter. Caspian Capital LP now owns 3,167,787 shares of the shipping company’s stock valued at $31,139,000 after purchasing an additional 306,341 shares during the last quarter. Finally, Driehaus Capital Management LLC lifted its stake in Star Bulk Carriers Corp. by 1,531.7% during the first quarter. Driehaus Capital Management LLC now owns 213,750 shares of the shipping company’s stock valued at $2,539,000 after purchasing an additional 200,650 shares during the last quarter. 75.03% of the stock is owned by institutional investors and hedge funds.

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).

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