SBLK is oversold amid this recent pullback
At last check, Star Bulk Carriers Corp. (NASDAQ:SBLK) was up 2.2% to trade at $10.69. The shipping stock had a rough October along with the rest of the broader equities market, but amid SBLK's recent struggles, one analyst suggests the stock could be on sale at current levels. More specifically, Deutsche Bank earlier today reiterated its "buy" rating and $17 price target on the shipping stock.
SBLK shares touched an annual high of $15.38 on Oct. 1, but succumbed to those nasty October stock market headwinds. Despite the rally today, the equity is still on track for its worst week since April 17 and has shed 26% this quarter. Nevertheless, SBLK shares are a ways off their Nov. 15 low of $8.62, and have a 14-day Relative Strength Index (RSI) of 26 that indicates they are are firmly into oversold waters.

Deutsche Bank's optimism is shared throughout the analyst community. All six of the brokerages covering SBLK rate it a "strong buy," while the average 12-month price target of $16.71 is a 57% premium to its current perch.
Options traders are piling on today, despite limited absolute volume. At last check, nearly 2,400 calls have been traded, seven times the average intraday volume and pacing for the 98th percentile of its annual range. Leading the charge is the February 2019 12.50-strike call, where it looks like new positions are being opened.