Price Action to Note: Is Buying Star Bulk Carriers Corp. Here a Winning Strategy?

Price Action to Note: Is Buying Star Bulk Carriers Corp. Here a Winning Strategy?

The stock of Star Bulk Carriers Corp. (NASDAQ:SBLK) is a huge mover today! About 624,746 shares traded hands or 192.42% up from the average. Star Bulk Carriers Corp. (NASDAQ:SBLK) has declined 0.19% since April 13, 2016 and is downtrending. It has underperformed by 4.12% the S&P500.
The move comes after 7 months positive chart setup for the $297.02 million company. It was reported on Nov, 15 by Barchart.com. We have $11.32 PT which if reached, will make NASDAQ:SBLK worth $326.72 million more.

Star Bulk Carriers Corp. (NASDAQ:SBLK) Ratings Coverage

Out of 7 analysts covering Star Bulk Carriers (NASDAQ:SBLK), 2 rate it a “Buy”, 1 “Sell”, while 4 “Hold”. This means 29% are positive. Star Bulk Carriers has been the topic of 15 analyst reports since September 1, 2015 according to StockzIntelligence Inc. The company was downgraded on Thursday, January 7 by Stifel Nicolaus. The firm has “Buy” rating by ABN Amro given on Thursday, April 21. The rating was downgraded by JP Morgan to “Neutral” on Tuesday, January 26. The rating was downgraded by UBS to “Sell” on Wednesday, October 28. UBS upgraded Star Bulk Carriers Corp. (NASDAQ:SBLK) on Friday, November 20 to “Neutral” rating. The stock has “Hold” rating given by Deutsche Bank on Wednesday, November 18. The firm has “Buy” rating by Deutsche Bank given on Monday, September 28. The firm has “Underweight” rating by Morgan Stanley given on Tuesday, December 15. Seaport Global downgraded Star Bulk Carriers Corp. (NASDAQ:SBLK) on Thursday, February 4 to “Neutral” rating. The rating was initiated by JP Morgan with “Overweight” on Thursday, October 15.

According to Zacks Investment Research, “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.”

More notable recent Star Bulk Carriers Corp. (NASDAQ:SBLK) news were published by: Quotes.Wsj.com which released: “News Star Bulk Carriers Corp.SBLK” on February 12, 2011, also Hellenicshippingnews.com with their article: “Star Bulk Carriers Corp. (SBLK) Downgraded to “Hold” at Zacks Investment Research” published on November 14, 2016, Valuewalk.com published: “Star Bulk Carriers Corp. (SBLK): 10 Bagger Or Bust” on February 02, 2016. More interesting news about Star Bulk Carriers Corp. (NASDAQ:SBLK) were released by: Seekingalpha.com and their article: “Massive Restructuring Looms For Star Bulk Carriers” published on June 22, 2016 as well as Fool.com‘s news article titled: “Why Star Bulk Carriers Corp. (SBLK) Stock Fell 13% Today” with publication date: May 13, 2015.

SBLK Company Profile

Star Bulk Carriers Corp., incorporated on December 13, 2006, is an international shipping company. The Firm owns and operates a fleet of dry bulk carrier vessels. The Company’s segment is operating dry bulk vessels. The Firm has a fleet of approximately 76 vessels consisting primarily of Newcastlemax and Capesize, as well as Kamsarmax, Ultramax and Supramax vessels, with a carrying capacity between 45,588 and 209,537 deadweight tonnage (dwt). The Company’s vessels transport a range of bulk commodities, including ores, coal, grains and fertilizers, along shipping routes across the world.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Leave a Comment