BidaskClub Downgrades Eagle Bulk Shipping Inc. (NASDAQ:EGLE) to Strong Sell
Eagle Bulk Shipping Inc. (NASDAQ:EGLE) was downgraded by research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued on Thursday, July 27th.
Separately, Zacks Investment Research cut shares of Eagle Bulk Shipping from a “buy” rating to a “hold” rating in a research note on Tuesday, May 23rd.
Shares of Eagle Bulk Shipping (EGLE) opened at 4.53 on Thursday. Eagle Bulk Shipping has a 12-month low of $4.06 and a 12-month high of $12.45. The stock’s 50 day moving average is $4.51 and its 200-day moving average is $5.16.
Eagle Bulk Shipping (NASDAQ:EGLE) last posted its earnings results on Monday, May 8th. The shipping company reported ($0.17) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.22) by $0.05. The company had revenue of $45.86 million during the quarter, compared to analysts’ expectations of $31.30 million. Eagle Bulk Shipping had a negative net margin of 100.90% and a negative return on equity of 11.71%. On average, analysts predict that Eagle Bulk Shipping will post ($0.59) EPS for the current year.
A number of institutional investors have recently bought and sold shares of EGLE. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV bought a new position in Eagle Bulk Shipping during the first quarter valued at $569,000. Horseman Capital Management Ltd bought a new position in Eagle Bulk Shipping during the first quarter valued at $690,000. Airain ltd bought a new position in Eagle Bulk Shipping during the first quarter valued at $828,000. Laurion Capital Management LP bought a new position in Eagle Bulk Shipping during the first quarter valued at $494,000. Finally, Segantii Capital Management Ltd boosted its position in Eagle Bulk Shipping by 985.2% in the first quarter. Segantii Capital Management Ltd now owns 43,407 shares of the shipping company’s stock valued at $247,000 after buying an additional 39,407 shares during the last quarter. 13.96% of the stock is owned by institutional investors.
About Eagle Bulk Shipping
Eagle Bulk Shipping Inc is engaged primarily in the ocean transportation of a range of major and minor bulk cargoes, including iron ore, coal, grain, cement and fertilizer, along worldwide shipping routes. The Company operates in the Handymax sector of the dry bulk industry, with particular emphasis on the Supramax class of vessels.
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