Market Analysts see Star Bulk Carriers Corp. [SBLK] gaining to $30. Time to buy?

Star Bulk Carriers Corp. [NASDAQ: SBLK] stock went on a downward path that fall over -0.35% on Thursday, amounting to a one-week price decrease of less than -3.95%. The company report on August 4, 2022 that Star Bulk Carriers Corp. Reports Net Profit of $200.1 Million for the Second Quarter of 2022 and Declares Quarterly Dividend of $1.65 Per Share.

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Star Bulk Carriers Corp. (the “Company” or “Star Bulk”) (Nasdaq: SBLK), a global shipping company focusing on the transportation of dry bulk cargoes, today announced its unaudited financial and operating results for the second quarter of 2022. Unless otherwise indicated or unless the context requires otherwise, all references in this press release to “we,” “us,” “our,” or similar references, mean Star Bulk Carriers Corp. and, where applicable, its consolidated subsidiaries.

Over the last 12 months, SBLK stock rose by 20.26%. The one-year Star Bulk Carriers Corp. stock forecast points to a potential upside of 24.96. The average equity rating for SBLK stock is currently 1.90, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $2.66 billion, with 102.22 million shares outstanding and 93.36 million shares in the current float. Compared to the average trading volume of 2.70M shares, SBLK stock reached a trading volume of 2677828 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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 $34.33 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 1.90. 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.

Jefferies 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 21, 2022. While these analysts kept the previous recommendation, Jefferies raised their target price to Buy. The new note on the price target was released on April 27, 2022, representing the official price target for Star Bulk Carriers Corp. stock. Previously, the target price had yet another raise to $30, while Pareto analysts kept a Hold rating on SBLK stock.

The Average True Range (ATR) for Star Bulk Carriers Corp. is set at 1.11, with the Price to Sales ratio for SBLK stock in the period of the last 12 months amounting to 1.57. The Price to Book ratio for the last quarter was 1.25, with the Price to Cash per share for the same quarter was set at 3.25. Price to Free Cash Flow for SBLK in the course of the last twelve months was 6.40 with Quick ratio for the last quarter at 1.80.

SBLK Stock Performance Analysis:

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 -3.95. With this latest performance, SBLK shares gained by 0.35% in over the last four-week period, additionally sinking by -4.59% over the last 6 months – not to mention a rise of 20.26% 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 49.94, with the RSI for the last a single of trading hit 48.64, and the three-weeks RSI is set at 49.39 for Star Bulk Carriers Corp. [SBLK]. The present Moving Average for the last 50 days of trading for this stock 25.23, while it was recorded at 26.00 for the last single week of trading, and 25.59 for the last 200 days.

Insight into Star Bulk Carriers Corp. 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 +51.49 and a Gross Margin at +55.66. Star Bulk Carriers Corp.’s Net Margin is presently recorded at +47.68.

Return on Equity for this stock inclined to 37.50, with Return on Assets sitting at 19.59.

Star Bulk Carriers Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.80 and a Current Ratio set at 2.10.

Star Bulk Carriers Corp. [SBLK] Insider Position Details

There are presently around $1,396 million, or 59.60% 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 26,021,457, which is approximately 0% of the company’s market cap and around 19.80% of the total institutional ownership; ALLIANCEBERNSTEIN L.P., holding 3,565,040 shares of the stock with an approximate value of $91.83 million in SBLK stocks shares; and ACADIAN ASSET MANAGEMENT LLC, currently with $71.06 million in SBLK stock with ownership of nearly 75.862% 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 103 institutional holders increased their position in Star Bulk Carriers Corp. [NASDAQ:SBLK] by around 9,554,917 shares. Additionally, 104 investors decreased positions by around 11,003,875 shares, while 21 investors held positions by with 33,635,492 shares. The mentioned changes placed institutional holdings at 54,194,284 shares, according to the latest SEC report filing. SBLK stock had 40 new institutional investments in for a total of 5,008,195 shares, while 45 institutional investors sold positions of 3,182,175 shares during the same period.


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