AM Squared Ltd Invests $76,000 in Star Bulk Carriers Corp. (NASDAQ:SBLK)

AM Squared Ltd purchased a new position in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 3,200 shares of the shipping company’s stock, valued at approximately $76,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Nisa Investment Advisors LLC purchased a new position in shares of Star Bulk Carriers during the 2nd quarter worth $32,000. Blue Trust Inc. boosted its stake in shares of Star Bulk Carriers by 190.5% during the 3rd quarter. Blue Trust Inc. now owns 2,025 shares of the shipping company’s stock worth $49,000 after acquiring an additional 1,328 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Star Bulk Carriers during the 2nd quarter worth $54,000. Point72 DIFC Ltd purchased a new position in shares of Star Bulk Carriers during the 2nd quarter worth $72,000. Finally, Banque Cantonale Vaudoise boosted its stake in shares of Star Bulk Carriers by 88.2% during the 2nd quarter. Banque Cantonale Vaudoise now owns 5,014 shares of the shipping company’s stock worth $122,000 after acquiring an additional 2,350 shares during the last quarter. Hedge funds and other institutional investors own 33.91% of the company’s stock.

Star Bulk Carriers Stock Performance

Shares of NASDAQ SBLK opened at $20.29 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.34 and a current ratio of 1.51. The company has a market cap of $1.70 billion, a P/E ratio of 7.46 and a beta of 1.00. The firm’s fifty day moving average is $20.83 and its two-hundred day moving average is $22.77. Star Bulk Carriers Corp. has a 52-week low of $18.63 and a 52-week high of $27.47.

Analysts Set New Price Targets

Several brokerages have recently commented on SBLK. Deutsche Bank Aktiengesellschaft began coverage on shares of Star Bulk Carriers in a research report on Wednesday, September 4th. They set a “buy” rating and a $26.00 price objective on the stock. StockNews.com downgraded shares of Star Bulk Carriers from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. DNB Markets downgraded shares of Star Bulk Carriers from a “hold” rating to a “sell” rating in a research report on Friday, October 11th. Finally, Stifel Nicolaus downgraded shares of Star Bulk Carriers from a “buy” rating to a “hold” rating and decreased their price objective for the company from $30.00 to $21.00 in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $25.67.

Star Bulk Carriers Company Profile

Star Bulk Carriers Corp., a shipping company, engages in the ocean transportation of dry bulk cargoes worldwide. Its vessels transport a range of bulk commodities, including iron ores, minerals and grains, bauxite, fertilizers, and steel products. As of December 31, 2023, the company owned a fleet of 116 dry bulk vessels with combined carrying capacity of 13.1 million deadweight tonnage (dwt) consisting of Newcastlemax, Capesize, Post Panamax, Kamsarmax, Panamax, Ultramax, and Supramax vessels with carrying capacities between 53,489 dwt and 209,537 dwt.