Understanding the Risks of Investing in Eagle Bulk Shipping Inc. (EGLE)


In a filing, Eagle Bulk Shipping Inc. revealed its Director Knowles Justin A. acquired Company’s shares for reported $64781.0 on Aug 15. In the deal valued at $44.68 per share,1,450 shares were bought. As a result of this transaction, Knowles Justin A. now holds 5,842 shares worth roughly $ 0.26 million.

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Then, Knowles Justin A. sold 1,450 shares, generating $64,192 in total proceeds. Upon selling the shares at $44.27, the Director now owns 4,392 shares.

Before that, Vogel Gary sold 6,503 shares. Eagle Bulk Shipping Inc. shares valued at $325,735 were divested by the Chief Executive Officer at a price of $50.09 per share. As a result of the transaction, Vogel Gary now holds 140,151 shares, worth roughly $6.17 million.

Stifel initiated its Eagle Bulk Shipping Inc. [EGLE] rating to a Buy in a research note published on Friday, September 30, 2022; the price target was $62. PT values the company’s stock at a premium of 28.98 to its Friday closing price.

Price Performance Review of EGLE

On Friday, Eagle Bulk Shipping Inc. [NYSE:EGLE] saw its stock jump 0.62% to $44.03. On the same session, the stock had its day’s lowest price of $43.95, but rose to a high of $44.80. Over the last five days, the stock has gained 7.36%. Eagle Bulk Shipping Inc. shares have fallen nearly -11.83% since the year began. Nevertheless, the stocks have risen 1.36% over the past one year. While a 52-week high of $67.09 was reached on 03/01/23, a 52-week low of $39.16 was recorded on 05/31/23. SMA at 50 days reached $45.00, while 200 days put it at $48.21. A total of 0.1 million shares were traded, compared to the trading of 0.16 million shares in the previous session.

Levels Of Support And Resistance For EGLE Stock

The 24-hour chart illustrates a support level at 43.72, which if violated will result in even more drops to 43.41. On the upside, there is a resistance level at 44.57. A further resistance level may holdings at 45.11. The Relative Strength Index (RSI) on the 14-day chart is 49.30, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.08, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 39.92%. Stochastics %K at 56.27% indicates the stock is a holding.

How much short interest is there in Eagle Bulk Shipping Inc.?

A steep rise in short interest was recorded in Eagle Bulk Shipping Inc. stocks on Aug 14, 2023, dropping by -0.29 million shares to a total of 1.43 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 1.72 million shares. There was a decline of -20.28%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 24.21% of the overall stock float, the days-to-cover ratio (short ratio) fell to 8.42.

Eagle Bulk Shipping Inc. [EGLE] – Who Are The Largest Shareholders?

In filings from BlackRock Fund Advisors, it is revealed that the company now owns 874,234 shares, or roughly 6.38% of the outstanding EGLE shares. In other words, the investor’s shares have risen by 35,345 from its previous 13-F filing of 838889.0. Additionally, Dimensional Fund Advisors LP decreased -5.44% of its stake after which the total value it holdings stand at $37,607,436, while The Vanguard Group, Inc. reduced -0.40% of its stake to hold $23.92 million in the firm. Over the last quarter, SSgA Funds Management, Inc. sold -15,469 shares of Eagle Bulk Shipping Inc., while Fidelity Management & Research Co sold 19,344 shares. At present, Gratus Capital LLC is holding 240,888 shares valued at $11.13 million. Geode Capital Management LLC owned 230,863 shares of the company at the time of its most recent 13F filing, worth $10.66 million.

According to FactSet, Eagle Bulk Shipping Inc.’s share price will average $61.10 in the next year, based on opinions of analysts polled by the firm. This is up nearly 35.05 percent from its previous closing price of $43.76. Analysts expect Eagle Bulk Shipping Inc. stock to reach the higher price of $84.00, while the lowest price estimate is $52.00. However, 11 analysts have rated EGLE stock as a Buy in their predictions for 2023.


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