Star Bulk Carriers Corp. [NASDAQ: SBLK] slipped around -1.4 points on Friday, while shares priced at $17.34 at the close of the session, down -7.47%. The company report on July 2, 2021 that Star Bulk Carriers Corp. Announces the Launch of Two Separate ATM Equity Offerings for Up to an Aggregate of $150.0 Million of Common Shares of the Company.
Star Bulk Carriers Corp. (the “Company” or “Star Bulk”) (Nasdaq: SBLK) announced the Company entered into (i) a Sales Agreement dated July 1, 2021, with Deutsche Bank Securities (“Deutsche Bank”) for the offer and sale of up to $75.0 million of common shares of the Company and (ii) a Sales Agreement dated July 1, 2021, with Jefferies LLC (“Jefferies” and together with Deutsche Bank, the “Sales Agents”) for the offer and sale of up to $75.0 million of common shares of the Company.
In accordance with the terms of each of the sales agreements described above, the Company may offer and sell its common shares at any time and from time to time through the Sales Agents, as agent or principal. Sales of the Company’s common shares, if any, may be made by any method permitted by law deemed to be an “at the market offering” as defined in Rule 415(a)(4) under the Securities Act of 1933, as amended. The Sales Agents are not required to sell any specific number or dollar amount of securities, but will act as the Company’s sales agents using commercially reasonable efforts consistent with their normal trading and sales practices, on mutually agreed terms between the Company and the Sales Agents. The Company will submit orders to not more than one of Deutsche Bank or Jefferies relating to the sale of its common shares on any given day.
Star Bulk Carriers Corp. stock is now 96.38% up from its year-to-date (YTD) trading value. SBLK Stock saw the intraday high of $18.97 and lowest of $17.26 per share. The company’s 52-week high price is 25.24, which means current price is +100.23% above from all time high which was touched on 06/25/21.
Compared to the average trading volume of 1.96M shares, SBLK reached a trading volume of 3180393 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Star Bulk Carriers Corp. [SBLK]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SBLK shares is $27.81 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SBLK stock is a recommendation set at 1.60. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
DNB Markets have made an estimate for Star Bulk Carriers Corp. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on July 29, 2020. The new note on the price target was released on March 09, 2020, representing the official price target for Star Bulk Carriers Corp. stock. On March 01, 2018, analysts increased their price target for SBLK shares from 11 to 12.
The Average True Range (ATR) for Star Bulk Carriers Corp. is set at 1.31, with the Price to Sales ratio for SBLK stock in the period of the last 12 months amounting to 2.61. The Price to Book ratio for the last quarter was 1.04, with the Price to Cash per share for the same quarter was set at 1.82.
How has SBLK stock performed recently?
Star Bulk Carriers Corp. [SBLK] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -15.62. With this latest performance, SBLK shares dropped by -28.85% in over the last four-week period, additionally plugging by 44.14% over the last 6 months – not to mention a rise of 171.36% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SBLK stock in for the last two-week period is set at 31.84, with the RSI for the last a single of trading hit 23.00, and the three-weeks RSI is set at 37.90 for Star Bulk Carriers Corp. [SBLK]. The present Moving Average for the last 50 days of trading for this stock 21.21, while it was recorded at 18.83 for the last single week of trading, and 13.66 for the last 200 days.
Star Bulk Carriers Corp. [SBLK]: Deeper insight into the fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Star Bulk Carriers Corp. [SBLK] shares currently have an operating margin of +9.55 and a Gross Margin at +16.87. Star Bulk Carriers Corp.’s Net Margin is presently recorded at +1.40.
Return on Total Capital for SBLK is now 2.12, given the latest momentum, and Return on Invested Capital for the company is 0.33. Return on Equity for this stock inclined to 0.62, with Return on Assets sitting at 0.30. When it comes to the capital structure of this company, Star Bulk Carriers Corp. [SBLK] has a Total Debt to Total Equity ratio set at 100.74. Additionally, SBLK Total Debt to Total Capital is recorded at 50.18, with Total Debt to Total Assets ending up at 48.91. Long-Term Debt to Equity for the company is recorded at 88.49, with the Long-Term Debt to Total Capital now at 44.08.
Reflecting on the efficiency of the workforce at the company, Star Bulk Carriers Corp. [SBLK] managed to generate an average of $53,667 per employee. Receivables Turnover for the company is 13.96 with a Total Asset Turnover recorded at a value of 0.22.Star Bulk Carriers Corp.’s liquidity data is similarly interesting compelling, with a Current Ratio set at 1.10.
Insider trade positions for Star Bulk Carriers Corp. [SBLK]
There are presently around $1,030 million, or 50.20% of SBLK stock, in the hands of institutional investors. The top three institutional holders of SBLK stocks are: OAKTREE CAPITAL MANAGEMENT LP with ownership of 39,006,017, which is approximately 0% of the company’s market cap and around 19.80% of the total institutional ownership; FMR LLC, holding 3,474,922 shares of the stock with an approximate value of $60.26 million in SBLK stocks shares; and DRIEHAUS CAPITAL MANAGEMENT LLC, currently with $34.87 million in SBLK stock with ownership of nearly New of the company’s market capitalization.
Positions in Star Bulk Carriers Corp. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 63 institutional holders increased their position in Star Bulk Carriers Corp. [NASDAQ:SBLK] by around 12,688,172 shares. Additionally, 28 investors decreased positions by around 7,077,919 shares, while 11 investors held positions by with 39,648,977 shares. The mentioned changes placed institutional holdings at 59,415,068 shares, according to the latest SEC report filing. SBLK stock had 43 new institutional investments in for a total of 10,922,320 shares, while 14 institutional investors sold positions of 848,124 shares during the same period.