Eagle Bulk Shipping Inc. stock trades under the ticker EGLE & has recently shown bullishness that traders & investors should take a closer look at.
EGLE stock closed at 47.21/share on 7/15/2022.
Eagle Bulk Shipping Inc. EGLE Stock’s Technical Performance Broken Down
EGLE Stock Price: $47.21
10 Day Moving Average: $44.94
50 Day Moving Average: $59.76
200 Day Moving Average: $50.23
RSI: 39.22
MACD: -4.604
On Friday, EGLE stock completed a bullish MACD crossover, gapping up 5.38% to settle above its 10 day moving average at the close.
Their RSI is on the oversold end of neutral, and their recent trading volume has been roughly average recently compared to the year prior, signaling that there still may be more more near-term momentum.
They will need to break above the $47.86 & $49.24/share resistance levels as they continue to climb higher.
Eagle Bulk Shipping Inc. EGLE Stock As A Long-Term Investment
Long-term oriented investors will like EGLE stock’s valuation metrics, with a 3.15 P/E (ttm) & a 0.88 P/B (mrq).
They recently reported 90.9% Quarterly Revenue Growth Y-o-Y, with 438.9% Quarterly Earnings Growth Y-o-Y.
Their balance sheet will require a closer examination before investing though, with $85.97M of Total Cash (mrq) & $398.84M of Total Debt (mrq).
EGLE stock pays a 13.5% dividend yield, which appears stable in the long-term, with a 28.5% payout ratio.
84.2% of EGLE stock’s outstanding share float is owned by institutional investors.
Eagle Bulk Shipping Inc. EGLE Stock As A Short-Term Trade Using Options
Short-term oriented traders can use options to hedge against market volatility, while profiting from movements in EGLE stock’s price.
I am looking at the contracts with the 8/19 expiration date.
The $45, $40 & $30 call options are all in-the-money, listed from most to least levels of open interest.
The $50, $55 & $60 puts are also all in-the-money, listed from most to least liquid.
Tying It All Together
EGLE stock has many interesting attributes that traders and investors should find appealing.
Investors will like their dividend yield & valuation metrics, but may want to review their balance sheet more closely.
Traders will like their recent momentum, but may be disappointed in how liquid their options are.
Overall, it is worth taking a closer look into EGLE stock to see how it fits into your portfolio strategy.
*** I DO NOT OWN SHARES OF EGLE STOCK AT THE TIME OF PUBLISHING THIS ARTICLE ***