Euroseas (NASDAQ:ESEA) Stock Price Crosses Above 200 Day Moving Average of $38.52

Euroseas Ltd. (NASDAQ:ESEA) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $38.52 and traded as high as $45.95. Euroseas shares last traded at $45.03, with a volume of 52,690 shares.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on ESEA shares. Alliance Global Partners assumed coverage on shares of Euroseas in a research report on Monday, September 9th. They set a “buy” rating and a $60.00 price target for the company. Noble Financial upgraded Euroseas to a “strong-buy” rating in a research report on Wednesday, July 10th.

Euroseas Price Performance

The company has a market capitalization of $315.48 million, a PE ratio of 2.96 and a beta of 0.84. The company has a quick ratio of 1.41, a current ratio of 1.46 and a debt-to-equity ratio of 0.52. The firm’s 50-day moving average is $42.11 and its 200-day moving average is $38.52.

Euroseas (NASDAQ:ESEA) last posted its quarterly earnings data on Tuesday, August 6th. The shipping company reported $4.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.49 by $2.43. The firm had revenue of $60.29 million during the quarter, compared to analysts’ expectations of $49.33 million. Euroseas had a return on equity of 38.07% and a net margin of 57.36%. Equities analysts predict that Euroseas Ltd. will post 13.24 earnings per share for the current fiscal year.

Euroseas Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Monday, September 9th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 5.33%. The ex-dividend date of this dividend was Monday, September 9th. Euroseas’s payout ratio is currently 15.76%.

Institutional Investors Weigh In On Euroseas

A number of hedge funds have recently made changes to their positions in ESEA. Squarepoint Ops LLC raised its position in Euroseas by 42.5% in the 2nd quarter. Squarepoint Ops LLC now owns 12,135 shares of the shipping company’s stock worth $424,000 after purchasing an additional 3,617 shares during the period. Renaissance Technologies LLC boosted its holdings in Euroseas by 3.0% during the 2nd quarter. Renaissance Technologies LLC now owns 97,478 shares of the shipping company’s stock valued at $3,403,000 after acquiring an additional 2,877 shares during the period. Acadian Asset Management LLC boosted its holdings in Euroseas by 2.2% during the 2nd quarter. Acadian Asset Management LLC now owns 73,365 shares of the shipping company’s stock valued at $2,559,000 after acquiring an additional 1,602 shares during the period. Redhawk Wealth Advisors Inc. bought a new position in Euroseas during the 2nd quarter worth approximately $248,000. Finally, Beacon Capital Management LLC bought a new stake in Euroseas in the first quarter valued at approximately $36,000. 6.27% of the stock is currently owned by institutional investors.

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.