Today’s Market Runner: What’s Eagle Bulk Shipping Inc Downside After Touching 1 Year Low?

Today's Market Runner: What's Eagle Bulk Shipping Inc Downside After Touching 1 Year Low?

The stock of Eagle Bulk Shipping Inc (NASDAQ:EGLE) hit a new 52-week low and has $4.48 target or 11.00% below today’s $5.03 share price. The 5 months bearish chart indicates high risk for the $248.39 million company. The 1-year low was reported on Oct, 13 by If the $4.48 price target is reached, the company will be worth $27.32M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 59,408 shares traded hands. Eagle Bulk Shipping Inc (NASDAQ:EGLE) has declined 81.44% since March 10, 2016 and is downtrending. It has underperformed by 88.96% the S&P500.

Analysts await Eagle Bulk Shipping Inc (NASDAQ:EGLE) to report earnings on November, 21.

According to Zacks Investment Research, “Eagle Bulk Shipping is the largest U.S. based owner of Handymax dry bulk vessels. Handymax dry bulk vessels range in size from 35,000 to 60,000 deadweight tons, or dwt, and transport a broad range of major and minor bulk cargoes, including iron ore, coal, grain, cement and fertilizer, along worldwide shipping routes.”

Insitutional Activity: The institutional sentiment decreased to 0.5 in Q2 2016. Its down 0.24, from 0.74 in 2016Q1. The ratio is negative, as 20 funds sold all Eagle Bulk Shipping Inc shares owned while 8 reduced positions. 5 funds bought stakes while 9 increased positions. They now own 26.94 million shares or 13.39% less from 31.11 million shares in 2016Q1.
The North Carolina-based Bancorp Of America De has invested 0% in Eagle Bulk Shipping Inc (NASDAQ:EGLE). Deutsche Bank Ag has invested 0% of its portfolio in Eagle Bulk Shipping Inc (NASDAQ:EGLE). Comml Bank Of Montreal Can holds 0% or 1 shares in its portfolio. Goldman Sachs Gp Incorporated Inc has invested 0% of its portfolio in Eagle Bulk Shipping Inc (NASDAQ:EGLE). Neuberger Berman Grp reported 2.16M shares or 0% of all its holdings. Vanguard last reported 0% of its portfolio in the stock. Credit Suisse Ag, a Switzerland-based fund reported 39,117 shares. Oakworth Cap Incorporated holds 2 shares or 0% of its portfolio. Royal Comml Bank Of Canada accumulated 0% or 285 shares. New York State Common Retirement Fund has 0% invested in the company for 20,300 shares. The New York-based Jpmorgan Chase And Communication has invested 0% in Eagle Bulk Shipping Inc (NASDAQ:EGLE). Geode Cap Ltd Llc accumulated 0% or 14,643 shares. Ladenburg Thalmann Fincl Services has 5 shares for 0% of their US portfolio. Goldentree Asset L P reported 5.90 million shares or 0.52% of all its holdings. The Texas-based Next Finance Gru has invested 0% in Eagle Bulk Shipping Inc (NASDAQ:EGLE).

Insider Transactions: Since August 10, 2016, the stock had 1 insider buy, and 0 selling transactions for $13.16 million net activity. On Wednesday, August 10 the insider GOLDENTREE ASSET MANAGEMENT LP bought $13.16M.

More notable recent Eagle Bulk Shipping Inc (NASDAQ:EGLE) news were published by: which released: “Eagle Bulk Shipping Inc. Announces $85.0 Million Private Placement of Common Stock” on July 05, 2016, also with their article: “Eagle Bulk Shipping Inc (EGLE): The Move of the Day” published on August 26, 2016, published: “Eagle Bulk Shipping Inc. Expands Global Presence with New Office in Hamburg …” on June 20, 2016. More interesting news about Eagle Bulk Shipping Inc (NASDAQ:EGLE) were released by: and their article: “Frank De Costanzo Joins Eagle Bulk Shipping as Chief Financial Officer” published on September 29, 2016 as well as‘s news article titled: “Eagle Bulk Shipping Inc. Announces Reverse Stock Split” with publication date: August 05, 2016.

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