Star Bulk Carriers Corp. (SBLK) Shares Active after Upgrade at Zacks Investment Research

Star Bulk Carriers Corp. (NASDAQ: SBLK) shares rose in value Thursday Dec 1 with lower trade volume than normal after a number of analysts weighed in on the investing value of the stock with a upgraded rating.

Meanwhile, U.S. stocks opened with slight gains on Thursday.

The Dow Jones Industrial Average DJIA, +0.31% rose 38.22 points, or 0.2%, to 19,174, while the S&P 500 SPX, +0.01% added 2.1 points to 2,202, a rise of 0.1%.

The Nasdaq Composite Index COMP, -0.32% rose less than 1 point to 5,323, essentially unchanged on the day.
Analysts at Zacks Investment Research upgraded shares of Star Bulk Carriers Corp. (NASDAQ: SBLK) from Hold to Buy today. Zacks Investment Research currently has a rating of Buy on the shares. As a means of comparison, a number of other analysts have commented on the company in recent days, and Star Bulk Carriers Corp. has secured a consensus one-year price target of $5.43, higher than the opening price of $5.20. Star Bulk Carriers Corp. stock has a 52-week high of $6.10. Stock prices often shift to the upside on recommendations and new price targets of professional analysts.

Star Bulk Carriers Corp. (NASDAQ: SBLK) shares last traded at $5.32, which is a jump of $0.15 or 2.90% from the previous closing price. Opening at $5.20, they fluctuated from $5.20 and $5.50 throughout the day.

Star Bulk Carriers Corp. (NASDAQ: SBLK) currently has a market cap of 243.30M.

Star Bulk Carriers Corp. (NASDAQ: SBLK) Average Daily Trading Volume

60,916 shares crossed the trading desk yesterday, lower than the average, out of a total float 14,591,000. Look for trading volume to pick up in the coming days as investors often use increases in trading volume to determine large volume accumulation or distribution by institutional investors.

As with all possible breakouts, investors watch for volume to be at least 40%-50% above normal on the breakout to demonstrate that fund managers and other professional investors are jumping in.

Institutional sponsorship just refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.

Professional investors such as these have teams of analysts that research thousands of stocks. Thus, watching their interests is a good way to ensure you are buying the right stocks.

Star Bulk Carriers Corp. (NASDAQ: SBLK) Moving Averages

A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.

This is because the average acts like a floor (support), so the price bounces up off of it.

In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.

By identifying trends, moving averages allow traders to make those trends work in their favor and increase the number of winning trades.

With that in mind, Star Bulk Carriers Corp. (NASDAQ: SBLK) now has a 50-day MA of $4.79 and 200-day MA of $4.23. It has traded in a 52-week range between $1.57 – 6.10 and today’s last price is 12.79%% lower than the 52 week high of $6.10.

Indeed, earnings growth is among the most crucial things to look at in regards to stock investing and, accordingly, investors identify companies that have been successful at growing their earnings at least 25% or more over 3 consecutive years.

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