Euroseas (NASDAQ:ESEA) Rating Increased to Buy at StockNews.com

Euroseas (NASDAQ:ESEA) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Saturday.

Several other brokerages have also issued reports on ESEA. Noble Financial upgraded shares of Euroseas to a “strong-buy” rating in a research report on Wednesday, July 10th. Alliance Global Partners began coverage on Euroseas in a research note on Monday, September 9th. They issued a “buy” rating and a $60.00 price target on the stock.

Euroseas Price Performance

Euroseas stock opened at $43.30 on Friday. The company’s 50 day moving average price is $44.70 and its two-hundred day moving average price is $39.55. The company has a quick ratio of 1.41, a current ratio of 1.46 and a debt-to-equity ratio of 0.52. Euroseas has a 52 week low of $22.50 and a 52 week high of $50.92. The stock has a market cap of $303.53 million, a P/E ratio of 2.56 and a beta of 0.85.

Euroseas (NASDAQ:ESEA) last posted its quarterly earnings results on Tuesday, August 6th. The shipping company reported $4.92 earnings per share for the quarter, topping the consensus estimate of $2.49 by $2.43. Euroseas had a return on equity of 38.07% and a net margin of 57.36%. The company had revenue of $60.29 million during the quarter, compared to the consensus estimate of $49.33 million. On average, equities analysts predict that Euroseas will post 14.99 earnings per share for the current year.

Institutional Trading of Euroseas

A number of large investors have recently made changes to their positions in the stock. CHURCHILL MANAGEMENT Corp bought a new stake in shares of Euroseas during the 1st quarter valued at about $1,300,000. Acadian Asset Management LLC lifted its stake in shares of Euroseas by 49.6% during the 1st quarter. Acadian Asset Management LLC now owns 71,763 shares of the shipping company’s stock valued at $2,570,000 after buying an additional 23,796 shares in the last quarter. Inspire Investing LLC bought a new position in shares of Euroseas in the third quarter worth about $913,000. Quadrature Capital Ltd boosted its stake in Euroseas by 51.4% in the 4th quarter. Quadrature Capital Ltd now owns 46,007 shares of the shipping company’s stock worth $1,434,000 after purchasing an additional 15,618 shares during the period. Finally, Virtu Financial LLC purchased a new position in Euroseas during the fourth quarter valued at $350,000. 6.27% of the stock is currently owned by institutional investors.

Euroseas Company Profile

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.