Eagle Bulk Shipping Inc. (NASDAQ:EGLE)’s stock price traded up 8.9% on Tuesday . The company traded as high as $2.02 and last traded at $1.96, 454,074 shares traded hands during trading. A decline of 14% from the average session volume of 527,622 shares. The stock had previously closed at $1.80.

A number of analysts have weighed in on the stock. BidaskClub raised shares of Eagle Bulk Shipping from a “strong sell” rating to a “sell” rating in a research report on Thursday, February 13th. Fearnley Fonds cut Eagle Bulk Shipping from a “buy” rating to a “hold” rating and set a price target on the stock. in a report on Monday, January 27th. DNB Markets cut Eagle Bulk Shipping from a “buy” rating to a “hold” rating and set a $4.10 price target on the stock. in a report on Monday, March 9th. Noble Financial restated a “buy” rating on shares of Eagle Bulk Shipping in a report on Friday, March 6th. Finally, Zacks Investment Research cut Eagle Bulk Shipping from a “hold” rating to a “sell” rating in a report on Wednesday, March 4th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $5.37.

The stock has a market capitalization of $152.67 million, a P/E ratio of -6.50 and a beta of 1.15. The business has a fifty day simple moving average of $2.83 and a 200-day simple moving average of $4.00. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.83 and a current ratio of 0.98.

Eagle Bulk Shipping (NASDAQ:EGLE) last issued its earnings results on Wednesday, March 4th. The shipping company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.08). Eagle Bulk Shipping had a negative return on equity of 4.65% and a negative net margin of 7.42%. The firm had revenue of $50.04 million during the quarter, compared to the consensus estimate of $58.33 million. On average, sell-side analysts anticipate that Eagle Bulk Shipping Inc. will post 0.22 earnings per share for the current year.

In related news, CEO Gary Vogel sold 6,118 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $4.52, for a total value of $27,653.36. Following the completion of the sale, the chief executive officer now directly owns 993,223 shares of the company’s stock, valued at approximately $4,489,367.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Goldentree Asset Management Lp sold 14,398 shares of the stock in a transaction on Monday, December 30th. The shares were 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. Corporate insiders own 4.10% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC purchased a new stake in shares of Eagle Bulk Shipping during the 4th quarter valued at $46,000. Squarepoint Ops LLC purchased a new stake in shares of Eagle Bulk Shipping during the 3rd quarter valued at $65,000. Sippican Capital Advisors increased its position in shares of Eagle Bulk Shipping by 14.3% during the 4th quarter. Sippican Capital Advisors now owns 21,000 shares of the shipping company’s stock valued at $97,000 after purchasing an additional 2,625 shares during the last quarter. Barclays PLC increased its position in shares of Eagle Bulk Shipping by 80.6% during the 4th quarter. Barclays PLC now owns 45,123 shares of the shipping company’s stock valued at $208,000 after purchasing an additional 20,138 shares during the last quarter. Finally, Panagora Asset Management Inc. increased its position in shares of Eagle Bulk Shipping by 9,140.8% during the 4th quarter. Panagora Asset Management Inc. now owns 62,283 shares of the shipping company’s stock valued at $287,000 after purchasing an additional 61,609 shares during the last quarter. 86.77% of the stock is owned by institutional investors and hedge funds.

Eagle Bulk Shipping Company Profile (NASDAQ:EGLE)

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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