Today’s Stock On Watch: Eagle Bulk Shipping Inc Can’t Be More Risky. Just Reaches 1 Year Low

Today's Stock On Watch: Eagle Bulk Shipping Inc Can't Be More Risky. Just Reaches 1 Year Low

The stock of Eagle Bulk Shipping Inc (NASDAQ:EGLE) hit a new 52-week low and has $3.76 target or 10.00% below today’s $4.18 share price. The 5 months bearish chart indicates high risk for the $198.33 million company. The 1-year low was reported on Oct, 28 by Barchart.com. If the $3.76 price target is reached, the company will be worth $19.83M 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 52,323 shares traded hands. Eagle Bulk Shipping Inc (NASDAQ:EGLE) has declined 69.71% since March 28, 2016 and is downtrending. It has underperformed by 74.42% 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 turned 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 New Jersey-based Kcg has invested 0% in Eagle Bulk Shipping Inc (NASDAQ:EGLE). The New York-based New York State Common Retirement Fund has invested 0% in Eagle Bulk Shipping Inc (NASDAQ:EGLE). Next Grp Inc reported 5 shares or 0% of all its holdings. Jpmorgan Chase Communication has invested 0% of its portfolio in Eagle Bulk Shipping Inc (NASDAQ:EGLE). Franklin last reported 870,767 shares in the company. Neuberger Berman Grp Lc reported 2.16M shares or 0% of all its holdings. Millennium Mgmt Lc last reported 126,901 shares in the company. Pnc Ser Group Inc has 0% invested in the company for 522 shares. Moreover, Credit Suisse Ag has 0% invested in Eagle Bulk Shipping Inc (NASDAQ:EGLE) for 39,117 shares. Geode Cap Ltd Liability Co holds 14,643 shares or 0% of its portfolio. Oaktree Cap Mngmt L P reported 15.71M shares or 0.12% of all its holdings. Paloma Prtnrs Mgmt Com has 70,623 shares for 0% of their US portfolio. Creative Planning accumulated 0% or 12 shares. Morgan Stanley last reported 0% of its portfolio in the stock. Ladenburg Thalmann Services has invested 0% of its portfolio in Eagle Bulk Shipping Inc (NASDAQ:EGLE).

Insider Transactions: Since August 10, 2016, the stock had 1 buying transaction, and 0 insider sales for $13.16 million net activity. Shares for $13.16M were bought 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 Prnewswire.com with their article: “Eagle Bulk Shipping, Inc. Announces Comprehensive Balance Sheet Recapitalization” published on March 30, 2016, Prnewswire.com published: “Eagle Bulk Shipping Inc. Announces Closing of $88.0 Million Private Placement …” on August 10, 2016. More interesting news about Eagle Bulk Shipping Inc (NASDAQ:EGLE) were released by: Prnewswire.com and their article: “Eagle Bulk Shipping Inc. Announces Reverse Stock Split” published on August 05, 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.

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