BidaskClub lowered shares of Eagle Bulk Shipping Inc. (NASDAQ:EGLE) from a sell rating to a strong sell rating in a research note published on Thursday morning.

Separately, Zacks Investment Research cut Eagle Bulk Shipping from a buy rating to a hold rating in a research note on Friday, June 9th.

Shares of Eagle Bulk Shipping (NASDAQ EGLE) traded up 0.46% during midday trading on Thursday, reaching $4.33. 144,400 shares of the company’s stock were exchanged. Eagle Bulk Shipping has a 12 month low of $4.06 and a 12 month high of $12.45. The firm has a 50 day moving average price of $4.56 and a 200 day moving average price of $5.21.

Eagle Bulk Shipping (NASDAQ:EGLE) last announced its quarterly earnings data on Monday, May 8th. The shipping company reported ($0.17) earnings per share (EPS) for the quarter, beating 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 business had revenue of $45.86 million for the quarter, compared to analysts’ expectations of $31.30 million. On average, analysts expect that Eagle Bulk Shipping will post ($0.59) earnings per share for the current year.

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A number of hedge funds and other institutional investors have recently bought and sold shares of EGLE. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV raised its position in 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 worth $757,000 after buying an additional 60,000 shares during the last quarter. Goldman Sachs Group Inc. bought a new position in Eagle Bulk Shipping during the first quarter worth $821,000. Raynor Geoffrey raised its position in Eagle Bulk Shipping by 3.2% in the first quarter. Raynor Geoffrey now owns 763,198 shares of the shipping company’s stock worth $3,912,000 after buying an additional 23,468 shares during the last quarter. Q Global Advisors LLC bought a new position in Eagle Bulk Shipping during the first quarter worth $8,180,000. Finally, BlueCrest Capital Management Ltd raised its position in 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 last quarter. 13.96% of the stock is 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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