Cleaves Securities analyst Joakim Hannisdahl upgraded Eagle Bulk Shipping (EGLE) to Buy yesterday and set a price target of $4.20. The company’s shares closed last Monday at $3.65, close to its 52-week low of $3.52.
According to TipRanks.com, Hannisdahl is a 3-star analyst with an average return of 5.5% and a 48.4% success rate. Hannisdahl covers the Services sector, focusing on stocks such as Nordic American Tanker, Star Bulk Carriers, and Golden Ocean Group.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Eagle Bulk Shipping with a $6.04 average price target.
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The company has a one-year high of $5.92 and a one-year low of $3.52. Currently, Eagle Bulk Shipping has an average volume of 367.3K.
Based on the recent corporate insider activity of 29 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of EGLE in relation to earlier this year.
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Eagle Bulk Shipping, Inc. is a holding company, which engages in the ocean transportation of a broad range of dry bulk cargoes worldwide through the ownership, charter, and operation of dry bulk vessels. It operates Supramax and Handymax vessels that transport minor and major bulk cargoes, including iron ore, coal, grain, cement, and fertilizer.
