Shares of Eagle Bulk Shipping Inc (NASDAQ:EGLE) have received a consensus broker rating score of 1.67 (Buy) from the three analysts that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a hold recommendation and two have assigned a strong buy recommendation to the company.

Analysts have set a twelve-month consensus price objective of $6.25 for the company and are expecting that the company will post $0.03 EPS for the current quarter, according to Zacks. Zacks has also assigned Eagle Bulk Shipping an industry rank of 235 out of 265 based on the ratings given to related companies.

A number of equities analysts have weighed in on the company. ValuEngine downgraded Eagle Bulk Shipping from a “hold” rating to a “sell” rating in a research report on Thursday, November 9th. Noble Financial assumed coverage on Eagle Bulk Shipping in a research report on Friday. They set a “buy” rating and a $6.00 price target on the stock. Zacks Investment Research downgraded Eagle Bulk Shipping from a “buy” rating to a “hold” rating in a research report on Friday, November 17th. Finally, Maxim Group reissued a “hold” rating and set a $4.50 price target on shares of Eagle Bulk Shipping in a research report on Thursday, November 2nd.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Mangrove Partners increased its position in Eagle Bulk Shipping by 1,426.5% during the third quarter. Mangrove Partners now owns 2,377,767 shares of the shipping company’s stock worth $10,771,000 after buying an additional 2,222,000 shares during the last quarter. Northern Trust Corp bought a new stake in shares of Eagle Bulk Shipping during the second quarter worth approximately $1,558,000. Bank of New York Mellon Corp bought a new stake in shares of Eagle Bulk Shipping during the second quarter worth approximately $496,000. TIAA CREF Investment Management LLC bought a new stake in shares of Eagle Bulk Shipping during the second quarter worth approximately $597,000. Finally, Schwab Charles Investment Management Inc. bought a new stake in shares of Eagle Bulk Shipping during the second quarter worth approximately $306,000. 26.30% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Eagle Bulk Shipping (EGLE) traded up $0.12 during midday trading on Thursday, reaching $4.90. The company’s stock had a trading volume of 467,744 shares, compared to its average volume of 324,075. The firm has a market capitalization of $363.11, a P/E ratio of -1.46 and a beta of 3.36. The company has a current ratio of 4.25, a quick ratio of 3.75 and a debt-to-equity ratio of 0.66. Eagle Bulk Shipping has a 1 year low of $4.18 and a 1 year high of $7.61.

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Eagle Bulk Shipping Company Profile

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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