In a note to clients, Justin Yagerman said the suspension was due to the Nasdaq-listed bulker owner’s “modest market capitalisation”, which stood at around $47.5m at the end of the second quarter.
The stock continues to be followed by equity analysts from Citi, Clarkson Capital Markets, Dahlman Rose, Platou, Global Hunter Securities, Jefferies & Co and Wells Fargo Securities.
Wall Street observers claim Deutsche Bank no longer boasts a "banking relationship" with Eagle, which may be the underlying reason behind the cut and why it didn’t blame a “reallocation of company resources”, the most common excuse analysts give when the plug is pulled.
