Eagle Bulk Shipping Inc. (EGLE) Trading 3.5% Higher
Shares of Eagle Bulk Shipping Inc. (NASDAQ:EGLE) traded up 3.5% on Tuesday . The stock traded as high as $6.92 and last traded at $6.74, with a volume of 58,247 shares trading hands. The stock had previously closed at $6.51.
The firm’s 50 day moving average is $7.18 and its 200-day moving average is $11.12. The stock’s market capitalization is $125.99 million.
Eagle Bulk Shipping (NASDAQ:EGLE) last issued its earnings results on Monday, August 8th. The company reported ($9.98) earnings per share for the quarter. The firm earned $25.60 million during the quarter, compared to analysts’ expectations of $22.70 million. Eagle Bulk Shipping had a negative net margin of 159.13% and a negative return on equity of 29.24%. Equities analysts forecast that Eagle Bulk Shipping Inc. will post ($3.14) earnings per share for the current year.
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In other news, insider Goldentree Asset Management Lp bought 713,910 shares of the stock in a transaction dated Wednesday, August 10th. The shares were acquired at an average price of $3.00 per share, with a total value of $2,141,730.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.10% of the stock is currently owned by insiders.
An institutional investor recently bought a new position in Eagle Bulk Shipping stock. Franklin Resources Inc. acquired a new stake in shares of Eagle Bulk Shipping Inc. (NASDAQ:EGLE) during the second quarter, according to its most recent 13F filing with the SEC. The firm acquired 870,767 shares of the company’s stock, valued at approximately $344,000. Franklin Resources Inc. owned 38.11% of Eagle Bulk Shipping at the end of the most recent quarter.
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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