“Raising rating to Buy, from Hold as we expect Handymax asset values to further appreciate as global grain ton-mile demand expands through year-end.”
According to TipRanks.com, Jang is a 5-star analyst with an average return of 20.6% and a 51.7% success rate. Jang covers the Services sector, focusing on stocks such as Dynagas LNG Partners LP, Nordic American Tanker, and Navigator Holdings.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Eagle Bulk Shipping with a $7.08 average price target.
The company has a one-year high of $6.14 and a one-year low of $4.18. Currently, Eagle Bulk Shipping has an average volume of 374.5K.
Based on the recent corporate insider activity of 9 insiders, corporate insider sentiment is negative on the stock.
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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.