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Investors are betting against Eagle Bulk Shipping (EGLE), Should You?

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Many investors appear to be quite bearish on Eagle Bulk Shipping Inc. (EGLE - Free Report) , especially if you look at the percentage of the float that is sold short for this stock. Currently, 29.8% of the float is sold short, suggesting an extreme level of bearishness for EGLE.

However, it is worth noting that earnings estimates have actually been moving higher for the company, despite the pessimism. Thanks to these rising estimates, we have a Zacks Rank #2 (Buy) on EGLE, so we clearly don’t believe in the negativity surrounding this firm, and are instead looking for shares of EGLE to move higher in the weeks ahead.

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