Stock News Update: Eagle Bulk Shipping Inc. (NASDAQ:EGLE)

Eagle Bulk Shipping Inc. (NASDAQ:EGLE) stock identified change of 97.86% away from 52-week low price and recently located move of -47.87% off 52-week high price. It has market worth of $215.83M and dividend yield of # ref. EGLE stock has been recorded 2.28% away from 50 day moving average and 12.11% away from 200 day moving average. Moving closer, we can see that shares have been trading -7.46% off 20-day moving average.

On Dec. 18, 2020, Eagle Bulk Shipping Inc. (NASDAQ:EGLE) revealed the pricing of its public offering of common stock and its concurrent registered direct offering. The offerings are being made pursuant to the Company’s registration statement (including a prospectus and related prospectus supplements for the offerings). The Company agreed to sell 290,055 shares of its common stock to the underwriters in the underwritten public offering and 1,091,160 shares of its common stock to certain funds and accounts for which GoldenTree Asset Management LP, an investment manager of current shareholders of the Company, serves as investment manager, in the concurrent registered direct offering, each at a public offering price of $18.10 per share. Total gross proceeds from the offerings will be approximately $25 million. The offerings are expected to close on December 22, 2020, each subject to the satisfaction of customary closing conditions. The Company intends to use the net proceeds from the offerings to finance the acquisition of modern Ultramax vessels and/or general corporate purposes.

In connection with the underwritten public offering, the Company granted the underwriters a 30-day option to purchase 32,890 additional shares of the Company’s common stock.

The Industrials sector company, Eagle Bulk Shipping Inc. noticed change of -10.21% to $17.59 along volume of 166298 shares in recent session compared to an average volume of 63.26K shares. The stock observed return of -7.66% in 5 days trading activity. The stock was at 3.71% over one month performance. EGLE’s shares are at -0.68% for the quarter and driving a -44.89% return over the course of the past year and is now at -45.37% since this point in 2018.

The average volatility for the week at 6.30% and for month was at 6.41%. There are 10.28M shares outstanding and 8.75M shares are floated in market. Right now the stock beta is 1.47.

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