Maxim Group set a $5.00 target price on Eagle Bulk Shipping Inc. (NASDAQ:EGLE) in a research report released on Wednesday morning. The firm currently has a hold rating on the shipping company’s stock.

“We are raising 2H17 estimates for EGLE based on what we predict could be a stronger rate environment for the handymax segment.”,” Maxim Group’s analyst commented.

Several other research analysts also recently commented on EGLE. Zacks Investment Research downgraded Eagle Bulk Shipping from a buy rating to a hold rating in a research note on Tuesday, May 23rd. BidaskClub downgraded Eagle Bulk Shipping from a hold rating to a sell rating in a research note on Tuesday, July 11th. Finally, ValuEngine raised Eagle Bulk Shipping from a strong sell rating to a sell rating in a research note on Thursday, August 10th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $5.67.

Eagle Bulk Shipping (NASDAQ:EGLE) opened at 4.52 on Wednesday. Eagle Bulk Shipping has a 12-month low of $4.06 and a 12-month high of $11.16. The company has a 50 day moving average of $4.45 and a 200-day moving average of $4.91.

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Several hedge funds have recently modified their holdings of EGLE. Airain ltd bought a new stake in shares of Eagle Bulk Shipping during the first quarter worth about $828,000. Laurion Capital Management LP bought a new stake in shares of Eagle Bulk Shipping during the first quarter worth about $494,000. Segantii Capital Management Ltd increased its stake 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 worth $247,000 after buying an additional 39,407 shares during the period. Weiss Multi Strategy Advisers LLC bought a new stake in shares of Eagle Bulk Shipping during the first quarter worth about $172,000. Finally, BlueCrest Capital Management Ltd increased its stake 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 worth $311,000 after buying an additional 44,700 shares during the period. 17.77% of the stock is owned by institutional investors and hedge funds.

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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