Maxim Group reaffirmed their hold rating on shares of Eagle Bulk Shipping Inc. (NASDAQ:EGLE) in a research report released on Thursday, November 2nd. They currently have a $4.50 price objective on the shipping company’s stock.
“Eagle Bulk Shipping (EGLE) reported 3Q17 results this evening, after the close. The company reported revenue of $62.7 million, net loss of ($10.3 million), loss per share of ($0.15), and EBITDA of $7.3 million. The company reported a fleet-wide net time charter-equivalent (TCE) rate of $8,660 per vessel/day during 3Q17 vs. $5,669 per vessel/day during 3Q16.”,” the firm’s analyst wrote.
A number of other equities research analysts have also recently weighed in on the company. Zacks Investment Research cut Eagle Bulk Shipping from a buy rating to a hold rating in a research note on Tuesday, July 11th. BidaskClub cut Eagle Bulk Shipping from a hold rating to a sell rating in a research note on Tuesday, July 11th. Finally, ValuEngine upgraded Eagle Bulk Shipping from a strong sell rating to a sell rating in a research note on Thursday, August 10th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the stock. Eagle Bulk Shipping currently has a consensus rating of Hold and a consensus price target of $5.50.
Eagle Bulk Shipping (EGLE) traded down $0.06 during mid-day trading on Thursday, reaching $4.44. The company had a trading volume of 186,100 shares, compared to its average volume of 301,967. Eagle Bulk Shipping has a 12-month low of $4.24 and a 12-month high of $11.16. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.25 and a quick ratio of 4.44.
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Several institutional investors and hedge funds have recently bought and sold shares of the stock. Nationwide Fund Advisors boosted its stake in shares of Eagle Bulk Shipping by 1,097.4% during the second quarter. Nationwide Fund Advisors now owns 23,338 shares of the shipping company’s stock valued at $110,000 after acquiring an additional 21,389 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in Eagle Bulk Shipping by 5,708.4% during the second quarter. The Manufacturers Life Insurance Company now owns 34,386 shares of the shipping company’s stock worth $162,000 after buying an additional 33,794 shares during the period. Virtu KCG Holdings LLC purchased a new position in Eagle Bulk Shipping during the second quarter worth about $174,000. Rhumbline Advisers purchased a new position in Eagle Bulk Shipping during the second quarter worth about $206,000. Finally, Investmentaktiengesellschaft Fuer Langfristige Investoren TGV lifted its position in Eagle Bulk Shipping by 60.0% during the second quarter. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV now owns 160,000 shares of the shipping company’s stock worth $757,000 after buying an additional 60,000 shares during the period. 17.62% of the stock is currently owned by institutional investors and hedge funds.
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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