According to Zacks, “Eagle Bulk Shipping is the largest U.S. based owner of Handymax dry bulk vessels. Handymax dry bulk vessels range in size from 35,000 to 60,000 deadweight tons, or dwt, and transport a broad range of major and minor bulk cargoes, including iron ore, coal, grain, cement and fertilizer, along worldwide shipping routes. “
Separately, BTIG Research reiterated a buy rating and set a $64.00 target price on shares of Eagle Bulk Shipping in a report on Friday, November 5th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Eagle Bulk Shipping has a consensus rating of Buy and a consensus target price of $58.40.
EGLE stock opened at $48.75 on Monday. The business’s 50-day moving average price is $42.95 and its two-hundred day moving average price is $44.12. The company has a current ratio of 1.23, a quick ratio of 1.13 and a debt-to-equity ratio of 0.64. The firm has a market cap of $662.56 million, a PE ratio of 7.49 and a beta of 1.28. Eagle Bulk Shipping has a 1-year low of $21.12 and a 1-year high of $56.47.
A number of hedge funds and other institutional investors have recently made changes to their positions in EGLE. Maven Securities LTD acquired a new position in Eagle Bulk Shipping during the second quarter worth approximately $27,661,000. FMR LLC boosted its stake in shares of Eagle Bulk Shipping by 343.4% in the second quarter. FMR LLC now owns 422,020 shares of the shipping company’s stock valued at $19,970,000 after buying an additional 326,849 shares during the period. State Street Corp lifted its stake in Eagle Bulk Shipping by 176.6% during the second quarter. State Street Corp now owns 286,419 shares of the shipping company’s stock worth $13,553,000 after purchasing an additional 182,873 shares during the last quarter. Morgan Stanley lifted its stake in Eagle Bulk Shipping by 49.5% during the second quarter. Morgan Stanley now owns 427,809 shares of the shipping company’s stock worth $20,244,000 after purchasing an additional 141,693 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in Eagle Bulk Shipping by 888.7% during the second quarter. Invesco Ltd. now owns 129,536 shares of the shipping company’s stock worth $6,130,000 after purchasing an additional 116,435 shares during the last quarter. 72.35% of the stock is currently owned by hedge funds and other institutional investors.
Eagle Bulk Shipping Company Profile
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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