Eagle Bulk Shipping (EGLE) NewsBite - EGLE Downgraded By Cantor Fitzgerald

Posted: Friday, February 13, 2009 1:47 PM EDT

Eagle Bulk Shipping (EGLE) was downgraded today by analysts at Cantor Fitzgerald and the stock is now at $5.37, down $0.97 (-15.33%) on volume of 2,380,222 shares traded. The analysts downgraded EGLE to "Sell" from "Hold." Over the last 52 weeks the stock has ranged from a low of $2.55 to a high of $36.24. Eagle Bulk Shipping stock has been showing support around $5.73 and resistance in the $6.89 range. Technical indicators for the stock are bullish and S&P does not currently have a STARS rating for EGLE. If you are looking for a hedged play on EGLE the stock seems like it could be a candidate for a March out-of-the-money bear-call credit spread above the 7.50 range. [ABR-Seven Summits Strategic Investments NewsBite]

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