Long Position on SBLK @ $20.50 on 11/26/2021 (Momentum)

Star Bulk Carriers Corp. (SBLK), a shipping company, engages in the ocean transportation of dry bulk cargoes worldwide. 

The company's vessels transport a range of major bulks, including iron ores, coal, and grains, as well as minor bulks, such as bauxite, fertilizers, and steel products.

As of March 16, 2021, it had a fleet of 128 vessels with an aggregate capacity of approximately 14.1 million deadweight tons, including 17 Newcastlemax, 22 Capesize, 2 Mini Capesize, 7 Post Panamax, 41 Kamsarmax, 2 Panamax, 20 Ultramax, and 17 Supramax vessels.

The company also provides vessel management services. Star Bulk Carriers Corp. was incorporated in 2006 and is based in Maroussi, Greece.

On November 16th, Star Bulk Carriers (SBLK) reported 3rd Quarter September 2021 earnings of $2.19 per share on revenue of $415.7 million. The consensus earnings estimate was $2.16 per share on revenue of $389.8 million. Revenue grew 107.6% on a year-over-year basis. On the news sharse soared more than 10% on heavy volume. The move pushed shares above their 50-day moving average and out of the downward trading channel. 

Watch for an opportune entry point. 

Entry Point: $20.50

Trading Range: $7.31 - $26.00

Stop Loss: $19.25

Target Price: $22.80

Position closed on 12/7/2021 at price of $23.70 with a 15.61% gain in 11 days.

Back to Portfolio