Eagle Bulk Shipping Inc. (NASDAQ:EGLE) Short Interest Up 24.2% in April
Eagle Bulk Shipping Inc. (NASDAQ:EGLE) was the recipient of a large growth in short interest in April. As of April 15th, there was short interest totalling 810,000 shares, a growth of 24.2% from the March 31st total of 652,100 shares. Based on an average daily trading volume, of 0 shares, the days-to-cover ratio is presently ∞ days.
Several brokerages have commented on EGLE. TheStreet raised shares of Eagle Bulk Shipping from a “d+” rating to a “c-” rating in a research report on Monday, April 5th. B. Riley lifted their price objective on shares of Eagle Bulk Shipping from $27.25 to $42.00 and gave the stock a “buy” rating in a research report on Monday, March 8th. Jefferies Financial Group reaffirmed a “buy” rating and set a $38.00 price objective on shares of Eagle Bulk Shipping in a research report on Thursday, March 25th. Zacks Investment Research raised shares of Eagle Bulk Shipping from a “sell” rating to a “hold” rating in a research report on Tuesday, January 12th. Finally, BTIG Research lifted their price objective on shares of Eagle Bulk Shipping from $40.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $31.82.
EGLE traded down $1.89 on Tuesday, reaching $44.51. The company had a trading volume of 229,786 shares, compared to its average volume of 122,874. Eagle Bulk Shipping has a 1 year low of $8.89 and a 1 year high of $47.90. The stock has a market capitalization of $553.84 million, a PE ratio of -9.91 and a beta of 1.46. The company has a quick ratio of 1.27, a current ratio of 1.40 and a debt-to-equity ratio of 1.03. The stock has a 50-day moving average price of $38.52 and a 200-day moving average price of $25.65.
In other Eagle Bulk Shipping news, CFO Costanzo Frank De sold 952 shares of the stock in a transaction dated Wednesday, April 21st. The shares were sold at an average price of $42.35, for a total value of $40,317.20. Following the completion of the sale, the chief financial officer now owns 45,425 shares in the company, valued at approximately $1,923,748.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Oaktree Capital Group Holdings sold 5,804 shares of the firm’s stock in a transaction that occurred on Wednesday, March 10th. The stock was sold at an average price of $39.62, for a total transaction of $229,954.48. The disclosure for this sale can be found here. Insiders sold a total of 343,294 shares of company stock worth $12,784,720 over the last ninety days. 4.10% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Relyea Zuckerberg Hanson LLC increased its stake in Eagle Bulk Shipping by 8.5% in the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 105,719 shares of the shipping company’s stock valued at $2,009,000 after purchasing an additional 8,287 shares during the period. Sippican Capital Advisors acquired a new position in shares of Eagle Bulk Shipping during the fourth quarter worth about $211,000. BlackRock Inc. increased its stake in shares of Eagle Bulk Shipping by 4.5% during the fourth quarter. BlackRock Inc. now owns 565,581 shares of the shipping company’s stock worth $10,746,000 after acquiring an additional 24,528 shares during the period. Victory Capital Management Inc. increased its stake in shares of Eagle Bulk Shipping by 5.2% during the fourth quarter. Victory Capital Management Inc. now owns 58,007 shares of the shipping company’s stock worth $1,102,000 after acquiring an additional 2,852 shares during the period. Finally, Entrust Global Partners L L C acquired a new position in shares of Eagle Bulk Shipping during the fourth quarter worth about $756,000. Institutional investors own 78.32% of the company’s stock.
About Eagle Bulk Shipping
Eagle Bulk Shipping Inc engages in the ocean transportation of dry bulk cargoes worldwide. The company owns, charters, and operates dry bulk vessels that transport a range of bulk cargoes, including iron ore, coal, grains, fertilizers, steel products, petcoke, cement, and forest products. It serves miners, producers, traders, and end users.
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