Eagle Bulk Shipping Inc. (EGLE) Short Interest Update
Eagle Bulk Shipping Inc. (NASDAQ:EGLE) was the target of a large increase in short interest during the month of June. As of June 30th, there was short interest totalling 2,586,607 shares, an increase of 184.0% from the June 15th total of 910,721 shares. Based on an average daily trading volume, of 770,285 shares, the days-to-cover ratio is currently 3.4 days. Currently, 3.6% of the company’s stock are sold short.
Several equities research analysts have recently issued reports on the company. Zacks Investment Research upgraded Eagle Bulk Shipping from a “hold” rating to a “buy” rating and set a $6.25 price target for the company in a report on Friday, March 24th. BidaskClub downgraded Eagle Bulk Shipping from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th.
Eagle Bulk Shipping (EGLE) opened at 4.62 on Friday. The firm has a 50-day moving average price of $4.72 and a 200 day moving average price of $5.41. Eagle Bulk Shipping has a 12 month low of $4.06 and a 12 month high of $12.45.
Eagle Bulk Shipping (NASDAQ:EGLE) last posted its quarterly earnings data on Monday, May 8th. The shipping company reported ($0.17) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.22) by $0.05. Eagle Bulk Shipping had a negative return on equity of 15.35% and a negative net margin of 131.02%. The firm had revenue of $45.86 million for the quarter, compared to analyst estimates of $31.30 million. Analysts predict that Eagle Bulk Shipping will post ($0.65) EPS for the current year.
Several institutional investors have recently modified their holdings of EGLE. Q Global Advisors LLC acquired a new position in shares of Eagle Bulk Shipping during the first quarter valued at about $8,180,000. Raynor Geoffrey raised its position in shares of Eagle Bulk Shipping by 3.2% in the first quarter. Raynor Geoffrey now owns 763,198 shares of the shipping company’s stock valued at $3,912,000 after buying an additional 23,468 shares during the last quarter. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV raised its position in shares of Eagle Bulk Shipping by 60.0% in the second quarter. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV now owns 160,000 shares of the shipping company’s stock valued at $757,000 after buying an additional 60,000 shares during the last quarter. Airain ltd acquired a new position in shares of Eagle Bulk Shipping during the first quarter valued at about $828,000. Finally, Goldman Sachs Group Inc. acquired a new position in shares of Eagle Bulk Shipping during the first quarter valued at about $821,000. Institutional investors own 13.88% of the company’s stock.
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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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