Notable Reporting: Will Eagle Bulk Shipping Inc Short Squeeze Soon?

Notable Reporting: Will Eagle Bulk Shipping Inc Short Squeeze Soon?

The stock of Eagle Bulk Shipping Inc (NASDAQ:EGLE) reached all time low today, Oct, 17 and still has $4.09 target or 11.00% below today’s $4.59 share price. This indicates more downside for the $229.13 million company. This technical setup was reported by Barchart.com. If the $4.09 PT is reached, the company will be worth $25.20M 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 112,489 shares traded hands. Eagle Bulk Shipping Inc (NASDAQ:EGLE) has declined 79.66% since March 14, 2016 and is downtrending. It has underperformed by 85.27% 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.
Kcg Hldg last reported 0% of its portfolio in the stock. Goldman Sachs holds 77,218 shares or 0% of its portfolio. Fincl Bank Of America Corporation De holds 0% of its portfolio in Eagle Bulk Shipping Inc (NASDAQ:EGLE) for 8,746 shares. Millennium Limited Liability Company last reported 0% of its portfolio in the stock. Blackrock Institutional Tru Na last reported 95,876 shares in the company. Citigroup has invested 0% of its portfolio in Eagle Bulk Shipping Inc (NASDAQ:EGLE). Fincl Bank Of Montreal Can last reported 0% of its portfolio in the stock. The Kansas-based Creative Planning has invested 0% in Eagle Bulk Shipping Inc (NASDAQ:EGLE). The United Kingdom-based Barclays Public Ltd Company has invested 0% in Eagle Bulk Shipping Inc (NASDAQ:EGLE). Vanguard Grp Incorporated has invested 0% of its portfolio in Eagle Bulk Shipping Inc (NASDAQ:EGLE). Ladenburg Thalmann Financial Services accumulated 5 shares or 0% of the stock. The New York-based Neuberger Berman Grp Inc Inc Ltd Liability Co has invested 0% in Eagle Bulk Shipping Inc (NASDAQ:EGLE). Franklin Resource Inc last reported 0% of its portfolio in the stock. Paloma Prtnrs Management holds 70,623 shares or 0% of its portfolio. Next Fin Group, a Texas-based fund reported 5 shares.

Insider Transactions: Since August 10, 2016, the stock had 1 insider buy, and 0 sales for $13.16 million net activity. GOLDENTREE ASSET MANAGEMENT LP also bought $13.16 million worth of Eagle Bulk Shipping Inc (NASDAQ:EGLE) shares.

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. Announces Reverse Stock Split” on August 05, 2016. More interesting news about Eagle Bulk Shipping Inc (NASDAQ:EGLE) were released by: Prnewswire.com and their article: “Eagle Bulk Shipping Inc. Announces Closing of $88.0 Million Private Placement …” published on August 10, 2016 as well as Prnewswire.com‘s news article titled: “Eagle Bulk Shipping Inc. Reports First Quarter 2016 Results” with publication date: May 10, 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.

Tags: , ,

Related posts

Leave a Comment