Euroseas Ltd. (NASDAQ:ESEA) Short Interest Down 20.0% in June

Euroseas Ltd. (NASDAQ:ESEA) saw a significant decline in short interest during the month of June. As of June 15th, there was short interest totalling 9,600 shares, a decline of 20.0% from the May 31st total of 12,000 shares. Based on an average daily trading volume, of 29,000 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.3% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

Separately, Noble Financial upped their price target on Euroseas from $49.00 to $53.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 12th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Beacon Capital Management LLC acquired a new position in Euroseas during the first quarter worth $36,000. Lazard Asset Management LLC grew its holdings in Euroseas by 3,282.3% during the first quarter. Lazard Asset Management LLC now owns 8,219 shares of the shipping company’s stock worth $294,000 after acquiring an additional 7,976 shares during the period. Acadian Asset Management LLC grew its holdings in Euroseas by 49.6% during the first quarter. Acadian Asset Management LLC now owns 71,763 shares of the shipping company’s stock worth $2,570,000 after acquiring an additional 23,796 shares during the period. Janney Montgomery Scott LLC grew its holdings in Euroseas by 18.8% during the first quarter. Janney Montgomery Scott LLC now owns 17,053 shares of the shipping company’s stock worth $611,000 after acquiring an additional 2,693 shares during the period. Finally, CHURCHILL MANAGEMENT Corp acquired a new position in Euroseas during the first quarter worth $1,300,000. Institutional investors and hedge funds own 6.27% of the company’s stock.

Euroseas Price Performance

Euroseas stock opened at $38.25 on Tuesday. Euroseas has a 12 month low of $19.71 and a 12 month high of $42.29. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.96 and a quick ratio of 0.91. The business has a 50 day simple moving average of $36.65 and a 200-day simple moving average of $36.09. The stock has a market capitalization of $268.13 million, a PE ratio of 2.51 and a beta of 0.81.

Euroseas (NASDAQ:ESEA) last released its quarterly earnings results on Thursday, May 23rd. The shipping company reported $2.66 EPS for the quarter, missing the consensus estimate of $3.02 by ($0.36). Euroseas had a return on equity of 39.84% and a net margin of 54.50%. The company had revenue of $48.29 million for the quarter, compared to analysts’ expectations of $48.10 million. Equities analysts predict that Euroseas will post 9.05 earnings per share for the current year.

Euroseas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 19th. Investors of record on Wednesday, June 12th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 6.27%. The ex-dividend date was Wednesday, June 12th. Euroseas’s dividend payout ratio is presently 15.76%.

About Euroseas

Euroseas Ltd. provides ocean-going transportation services worldwide. The company owns and operates containerships that transport dry and refrigerated containerized cargoes, including manufactured products and perishables. As of March 31, 2024, it had a fleet of 20 containerships with a cargo carrying capacity of approximately 777,749 dwt.