ValuEngine cut shares of Eagle Bulk Shipping (NASDAQ:EGLE) from a buy rating to a hold rating in a report issued on Tuesday morning, ValuEngine reports.

A number of other analysts have also commented on EGLE. Zacks Investment Research lowered Eagle Bulk Shipping from a hold rating to a sell rating in a report on Wednesday, January 8th. BidaskClub downgraded Eagle Bulk Shipping from a sell rating to a strong sell rating in a research note on Tuesday, December 17th. Two analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The company currently has an average rating of Hold and an average price target of $5.80.

Eagle Bulk Shipping stock traded down $0.03 during mid-day trading on Tuesday, reaching $4.02. The stock had a trading volume of 8,649 shares, compared to its average volume of 269,826. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.22 and a current ratio of 1.39. Eagle Bulk Shipping has a fifty-two week low of $3.79 and a fifty-two week high of $5.92. The stock’s 50-day simple moving average is $4.41 and its 200-day simple moving average is $4.53. The firm has a market capitalization of $315.69 million, a PE ratio of -80.40 and a beta of 1.49.

Eagle Bulk Shipping (NASDAQ:EGLE) last issued its earnings results on Wednesday, November 6th. The shipping company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.04). Eagle Bulk Shipping had a negative return on equity of 1.22% and a negative net margin of 1.31%. The firm had revenue of $54.66 million for the quarter, compared to analyst estimates of $55.95 million. On average, research analysts forecast that Eagle Bulk Shipping will post -0.12 earnings per share for the current fiscal year.

In related news, CEO Gary Vogel sold 6,118 shares of Eagle Bulk Shipping stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $4.52, for a total value of $27,653.36. Following the sale, the chief executive officer now owns 993,223 shares of the company’s stock, valued at approximately $4,489,367.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Goldentree Asset Management Lp sold 14,398 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $4.68, for a total value of $67,382.64. The disclosure for this sale can be found here. Insiders own 4.10% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Sippican Capital Advisors raised its position in shares of Eagle Bulk Shipping by 14.3% in the fourth quarter. Sippican Capital Advisors now owns 21,000 shares of the shipping company’s stock valued at $97,000 after purchasing an additional 2,625 shares during the period. Royal Bank of Canada lifted its position in shares of Eagle Bulk Shipping by 13.6% during the second quarter. Royal Bank of Canada now owns 41,337 shares of the shipping company’s stock worth $216,000 after acquiring an additional 4,955 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of Eagle Bulk Shipping by 7.5% in the third quarter. Rhumbline Advisers now owns 71,772 shares of the shipping company’s stock worth $314,000 after acquiring an additional 4,983 shares during the period. Bank of America Corp DE boosted its holdings in shares of Eagle Bulk Shipping by 1.9% in the second quarter. Bank of America Corp DE now owns 599,174 shares of the shipping company’s stock worth $3,140,000 after acquiring an additional 11,235 shares during the period. Finally, Squarepoint Ops LLC purchased a new position in shares of Eagle Bulk Shipping in the third quarter valued at $65,000. 85.77% 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.

Further Reading: Why are percentage gainers important?

To view ValuEngine’s full report, visit ValuEngine’s official website.

Receive News & Ratings for Eagle Bulk Shipping Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eagle Bulk Shipping and related companies with MarketBeat.com's FREE daily email newsletter.