Zacks Investment Research upgraded shares of Eagle Bulk Shipping Inc. (NASDAQ:EGLE) from a hold rating to a buy rating in a report released on Monday morning. Zacks Investment Research currently has $5.00 target price on the shipping company’s stock.

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, BidaskClub cut shares of Eagle Bulk Shipping from a hold rating to a sell rating in a report on Tuesday, July 11th.

Eagle Bulk Shipping (EGLE) traded down 1.74% during trading on Monday, reaching $4.51. 294,795 shares of the company were exchanged. The firm has a 50-day moving average of $4.53 and a 200-day moving average of $5.18. Eagle Bulk Shipping has a 52-week low of $4.06 and a 52-week high of $12.45.

Eagle Bulk Shipping (NASDAQ:EGLE) last issued its quarterly earnings data on Monday, May 8th. The shipping company reported ($0.17) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.22) by $0.05. Eagle Bulk Shipping had a negative net margin of 131.02% and a negative return on equity of 15.35%. The company had revenue of $45.86 million during the quarter, compared to the consensus estimate of $31.30 million. Equities research analysts expect that Eagle Bulk Shipping will post ($0.59) earnings per share for the current year.

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Hedge funds and other institutional investors have recently made changes to their positions in the company. Raynor Geoffrey boosted 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. Weiss Multi Strategy Advisers LLC acquired a new position in shares of Eagle Bulk Shipping during the first quarter valued at approximately $172,000. Segantii Capital Management Ltd boosted its position in shares of Eagle Bulk Shipping by 985.2% in the first quarter. Segantii Capital Management Ltd now owns 43,407 shares of the shipping company’s stock valued at $247,000 after buying an additional 39,407 shares during the last quarter. Rhumbline Advisers acquired a new position in shares of Eagle Bulk Shipping during the second quarter valued at approximately $206,000. Finally, BlueCrest Capital Management Ltd boosted its position in shares of Eagle Bulk Shipping by 447.0% in the first quarter. BlueCrest Capital Management Ltd now owns 54,700 shares of the shipping company’s stock valued at $311,000 after buying an additional 44,700 shares during the last quarter. Institutional investors and hedge funds own 13.96% of the company’s stock.

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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