Star Bulk Carriers Corp. (SBLK): Clutching At Straws?

The stock of Star Bulk Carriers Corp. (NASDAQ:SBLK) has been Downgraded to Equal-Weight from Overweight by Morgan Stanley in its latest research note that was published on February 15. Stifel analysts again handed out a Hold rating to SBLK stock but they lifted target price for the shares in a flash note to investors on March 01. The price target has been raised from $11 to $12. Analysts at Morgan Stanley issued an upgrade fromUnderweight to Overweight for the stock, in a research note that dated back to March 28.

Star’s stock is covered by 8 analysts, with 4 of them rating the stock as Buy. It has been deemed to have strong buy by 4 of the analysts, none of them have rated it as a Hold while none of them rated it as sell. The situation was different a month ago when the stock was rated as a Buy by only 5 analysts. 5 of them rated it as strong buy with none of them recommended investors to Hold on to the stock. Meanwhile, none analyst(s) rated it as a sell. The above data shows that SBLK has an average analyst rating of 1.50.

Star Bulk Carriers Corp., which has current market capitalization of above $835 Million, published its last quarter earnings on March 31, 2019. The company was able to amass $121.58 million in revenue. This figure is $4.26 million more than what analysts had expected which was $117.32 million. During the first quarter of the year, Star also recorded $-0.06 earnings per share (EPS) which is $0.04 above the $-0.01 estimated by Thomson Reuter’s analyst, leading to a surprise factor of -300%.

SBLK declined by $-0.10 during the normal trading session on Monday and reaching a high of $9.19 during the day while it closed the day at $8.94. The Star stock had a low trading volume of 0.77 million shares on that day, which is low compared to the average daily volume of 539.08M shares. SBLK has also gained 5.18% of its value over the past 7 days. However, the stock has surged by 15.06% in the 3 months of the year. Over the past six months meanwhile, it has gained 11.89% while it has lost 2.19% year-on date. Let us now take a look at the stock’s potential support and resistance levels. The publicly traded company was seen to have slipped by -22.66% from its 3 months high price. However, taking another look at SBLK will indicate that it is trading +35.02% away from its 90-day low. Looking at the bigger picture, the Star Bulk Carriers Corp. stock has dropped by -41.87% from its 52-week high while it has surged by +45.13% from its 52-week low price.

Looking at the stock’s Technical analysis information over the past 50 days shows that its Raw Stochastic average stood at 40.72%. This figure is better than the company’s 20-day Raw Stochastic average which currently stands at 18.12%. Over the past 20 days, Star’s Stochastic %K stood at 25.73% while its Stochastic %D was revealed to be 22.53%.