Star Bulk Carriers Corp. (SBLK) was Upgraded by JP Morgan to ” Overweight” and the brokerage firm has set the Price Target at $6.50. Earlier the firm had a rating of “Neutral ” on the company shares. JP Morgan advised their investors in a research report released on Jul 19, 2016.
Star Bulk Carriers Corp. opened for trading at $3.65 and hit $3.88 on the upside on Monday, eventually ending the session at $3.855, with a gain of 5.62% or 0.205 points. The heightened volatility saw the trading volume jump to 67,516 shares. Company has a market cap of $169 M.
Star Bulk Carriers Corp. is a shipping company. The Company owns and operates a fleet of dry bulk carrier vessels. The Company transports a range of major and minor bulk commodities including ores coal grains and fertilizers along worldwide shipping routes. As of April 6 2015 the Company’s operating fleet of 68 vessels had an aggregate capacity of approximately 7.1 million deadweight tons (dwt). The Company has an operating fleet of dry bulk carrier vessels. The Company’s fleet which emphasizes Capesize vessels primarily transports minerals from the Americas and Australia to East Asia particularly China but also Japan South Korea Taiwan Indonesia and Malaysia. Its Supramax vessels carry minerals grain products and steel between the Americas Europe Africa Australia and Indonesia and from these areas to China Japan South Korea Taiwan the Philippines and Malaysia. Its newbuilding vessels are being built at Japanese and Chinese shipyards.