Record results in the third quarter: check. Meaty initial dividend of $2 per share: check. Fleet renewal and expansion with a new debt facility: those boxes are ticked as well.

But one big challenge remains for New York-listed Eagle Bulk Shipping, and it took up a big part of the owner's otherwise celebratory earnings call on Friday.

What's up with the share price? And what does management intend to do about it?

Several analysts raised the question of how the Connecticut owner can...