Eagle Bulk Shipping (NASDAQ:EGLE) Upgraded to “Sell” at BidaskClub

Eagle Bulk Shipping (NASDAQ:EGLE) was upgraded by research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued on Thursday, BidAskClub reports.

Several other brokerages have also commented on EGLE. Zacks Investment Research upgraded Eagle Bulk Shipping from a “sell” rating to a “hold” rating in a research report on Friday, January 24th. Fearnley Fonds lowered Eagle Bulk Shipping from a “buy” rating to a “hold” rating and set a target price for the company. in a research report on Monday, January 27th. Finally, ValuEngine lowered Eagle Bulk Shipping from a “buy” rating to a “hold” rating in a research report on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. Eagle Bulk Shipping currently has an average rating of “Hold” and an average target price of $5.52.

Shares of EGLE opened at $3.18 on Thursday. The stock has a 50 day moving average of $3.96 and a 200-day moving average of $4.31. The company has a current ratio of 1.39, a quick ratio of 1.22 and a debt-to-equity ratio of 0.81. Eagle Bulk Shipping has a 52 week low of $2.87 and a 52 week high of $5.92.

In other news, CEO Gary Vogel sold 6,118 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $4.52, for a total transaction of $27,653.36. Following the completion of the sale, the chief executive officer now owns 993,223 shares in the company, valued at approximately $4,489,367.96. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Goldentree Asset Management Lp sold 14,398 shares of the company’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $4.68, for a total value of $67,382.64. The disclosure for this sale can be found here. Insiders own 4.10% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in shares of Eagle Bulk Shipping by 30.7% during the 2nd quarter. BlackRock Inc. now owns 3,323,264 shares of the shipping company’s stock worth $17,414,000 after acquiring an additional 780,881 shares in the last quarter. Royce & Associates LP boosted its stake in shares of Eagle Bulk Shipping by 2.7% during the 4th quarter. Royce & Associates LP now owns 2,111,531 shares of the shipping company’s stock worth $9,713,000 after acquiring an additional 56,224 shares in the last quarter. State Street Corp boosted its stake in shares of Eagle Bulk Shipping by 0.9% during the 4th quarter. State Street Corp now owns 781,712 shares of the shipping company’s stock worth $3,596,000 after acquiring an additional 7,137 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of Eagle Bulk Shipping by 1.9% during the 2nd quarter. Bank of America Corp DE now owns 599,174 shares of the shipping company’s stock worth $3,140,000 after acquiring an additional 11,235 shares in the last quarter. Finally, Relyea Zuckerberg Hanson LLC bought a new stake in shares of Eagle Bulk Shipping during the 4th quarter worth about $2,079,000. Institutional investors own 85.72% of the company’s stock.

Eagle Bulk Shipping Company Profile

Eagle Bulk Shipping, Inc is a holding company, which engages in the ocean transportation of a broad range of dry bulk cargoes worldwide through the ownership, charter, and operation of dry bulk vessels. It operates Supramax and Handymax vessels that transport minor and major bulk cargoes, including iron ore, coal, grain, cement, and fertilizer.

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Analyst Recommendations for Eagle Bulk Shipping (NASDAQ:EGLE)

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