The stock of Eagle Bulk Shipping Inc (NASDAQ:EGLE) reached all time low today, Oct, 13 and still has $4.26 target or 14.00% below today’s $4.95 share price. This indicates more downside for the $248.39 million company. This technical setup was reported by Barchart.com. If the $4.26 PT is reached, the company will be worth $34.77 million less.
Trading stocks at an all time low is not easy. Stock at an all time low usually experience even more downside due to very negative fundament. Even thought the pullback rate is high, shorting is not an easy job because the risk of being wrong is big and the risk-reward ratio is always worse than if trading lon only. About 74,373 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 fall, 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.
Natl Bank Of America Corp De owns 8,746 shares or 0% of their US portfolio. Wells Fargo And Mn holds 0% or 11 shares in its portfolio. Manufacturers Life Ins The last reported 7,447 shares in the company. Scepter Hldgs Incorporated has invested 0.1% of its portfolio in Eagle Bulk Shipping Inc (NASDAQ:EGLE). Ladenburg Thalmann Financial owns 5 shares or 0% of their US portfolio. Franklin Resources Inc owns 870,767 shares or 0% of their US portfolio. Citigroup Inc accumulated 0% or 101 shares. Jpmorgan Chase And Com reported 24,921 shares or 0% of all its holdings. Credit Suisse Ag last reported 39,117 shares in the company. Kcg holds 0% of its portfolio in Eagle Bulk Shipping Inc (NASDAQ:EGLE) for 26,140 shares. Millennium Management Limited Liability holds 0% of its portfolio in Eagle Bulk Shipping Inc (NASDAQ:EGLE) for 126,901 shares. Barclays Pcl accumulated 0% or 2,222 shares. Paloma Prtnrs Mgmt has 0% invested in the company for 70,623 shares. Goldman Sachs Grp Inc owns 77,218 shares or 0% of their US portfolio. Creative Planning owns 12 shares or 0% of their US portfolio.
Insider Transactions: Since August 10, 2016, the stock had 1 insider purchase, and 0 insider sales for $13.16 million net activity. Another trade for 4.39 million shares valued at $13.16 million was made by GOLDENTREE ASSET MANAGEMENT LP on Wednesday, August 10.
More notable recent Eagle Bulk Shipping Inc (NASDAQ:EGLE) news were published by: Prnewswire.com which released: “Eagle Bulk Shipping Inc. Announces $85.0 Million Private Placement of Common Stock” on July 05, 2016, also Investorplace.com with their article: “Eagle Bulk Shipping Inc (EGLE): The Move of the Day” published on August 26, 2016, Prnewswire.com 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: Prnewswire.com and their article: “Frank De Costanzo Joins Eagle Bulk Shipping as Chief Financial Officer” published on September 29, 2016 as well as Prnewswire.com‘s news article titled: “Eagle Bulk Shipping Inc. Announces Reverse Stock Split” with publication date: August 05, 2016.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.