Eagle Bulk Shipping Inc. (NASDAQ:EGLE) Short Interest Up 24.2% in April


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Eagle Bulk Shipping Inc. (NASDAQ:EGLE) was the recipient of a significant growth in short interest during the month of April. As of April 15th, there was short interest totalling 810,000 shares, a growth of 24.2% from the March 31st total of 652,100 shares. Based on an average daily volume of 0 shares, the short-interest ratio is presently ∞ days.

NASDAQ EGLE traded down $1.89 during trading hours on Tuesday, reaching $44.51. 229,786 shares of the company traded hands, compared to its average volume of 122,874. Eagle Bulk Shipping has a 12 month low of $8.89 and a 12 month high of $47.90. The company has a current ratio of 1.40, a quick ratio of 1.27 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $553.84 million, a PE ratio of -9.91 and a beta of 1.46. The company has a 50 day moving average of $38.52 and a two-hundred day moving average of $25.65.

Eagle Bulk Shipping (NASDAQ:EGLE) last posted its quarterly earnings data on Friday, March 5th. The shipping company reported $0.01 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.27) by $0.28. Eagle Bulk Shipping had a negative net margin of 17.08% and a negative return on equity of 9.71%. The firm had revenue of $55.59 million for the quarter, compared to the consensus estimate of $54.35 million. On average, equities research analysts anticipate that Eagle Bulk Shipping will post -3.53 earnings per share for the current year.

EGLE has been the subject of several recent research reports. Zacks Investment Research raised shares of Eagle Bulk Shipping from a “sell” rating to a “hold” rating in a research report on Tuesday, January 12th. B. Riley increased their price objective on shares of Eagle Bulk Shipping from $27.25 to $42.00 and gave the stock a “buy” rating in a research report on Monday, March 8th. Jefferies Financial Group reissued a “buy” rating and issued a $38.00 price objective on shares of Eagle Bulk Shipping in a research report on Thursday, March 25th. BTIG Research increased their price objective on shares of Eagle Bulk Shipping from $40.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, TheStreet raised shares of Eagle Bulk Shipping from a “d+” rating to a “c-” rating in a report on Monday, April 5th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $31.82.

In related news, major shareholder Oaktree Capital Group Holdings sold 5,804 shares of the company’s stock in a transaction that occurred on Wednesday, March 10th. The shares were sold at an average price of $39.62, for a total transaction of $229,954.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Costanzo Frank De sold 952 shares of the stock in a transaction on Wednesday, April 21st. The stock was sold at an average price of $42.35, for a total transaction of $40,317.20. Following the completion of the sale, the chief financial officer now directly owns 45,425 shares of the company’s stock, valued at approximately $1,923,748.75. The disclosure for this sale can be found here. Insiders have sold 343,294 shares of company stock valued at $12,784,720 in the last ninety days. 4.10% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of EGLE. Citigroup Inc. boosted its stake in Eagle Bulk Shipping by 337.3% during the 4th quarter. Citigroup Inc. now owns 1,325 shares of the shipping company’s stock valued at $25,000 after acquiring an additional 1,022 shares during the last quarter. Strs Ohio bought a new position in shares of Eagle Bulk Shipping in the 3rd quarter worth about $26,000. TCI Wealth Advisors Inc. bought a new position in shares of Eagle Bulk Shipping in the 4th quarter worth about $27,000. Squarepoint Ops LLC bought a new position in shares of Eagle Bulk Shipping in the 4th quarter worth about $206,000. Finally, Sippican Capital Advisors bought a new position in shares of Eagle Bulk Shipping in the 4th quarter worth about $211,000. Hedge funds and other institutional investors own 78.32% of the company’s stock.

About Eagle Bulk Shipping

Eagle Bulk Shipping Inc engages in the ocean transportation of dry bulk cargoes worldwide. The company owns, charters, and operates dry bulk vessels that transport a range of bulk cargoes, including iron ore, coal, grains, fertilizers, steel products, petcoke, cement, and forest products. It serves miners, producers, traders, and end users.

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