Euroseas Ltd. (NASDAQ:ESEA) Sees Large Increase in Short Interest

Euroseas Ltd. (NASDAQ:ESEA) saw a significant increase in short interest in December. As of December 15th, there was short interest totalling 13,100 shares, an increase of 15.9% from the November 30th total of 11,300 shares. Approximately 0.5% of the company’s stock are sold short. Based on an average daily trading volume, of 47,600 shares, the short-interest ratio is currently 0.3 days.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. StockNews.com cut Euroseas from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Alliance Global Partners began coverage on Euroseas in a report on Monday, September 9th. They issued a “buy” rating and a $60.00 price target for the company.

Euroseas Price Performance

Shares of NASDAQ:ESEA opened at $36.20 on Wednesday. Euroseas has a 12 month low of $31.14 and a 12 month high of $50.92. The firm has a market capitalization of $253.62 million, a P/E ratio of 2.23 and a beta of 0.89. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.65 and a quick ratio of 1.59. The company’s fifty day moving average price is $38.83 and its 200 day moving average price is $40.81.

Euroseas Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 17th. Stockholders of record on Monday, December 9th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 6.63%. The ex-dividend date of this dividend was Monday, December 9th. Euroseas’s payout ratio is currently 14.80%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Barclays PLC lifted its stake in Euroseas by 67.5% in the third quarter. Barclays PLC now owns 623 shares of the shipping company’s stock valued at $30,000 after buying an additional 251 shares during the last quarter. Geode Capital Management LLC purchased a new stake in Euroseas in the 3rd quarter valued at $248,000. Redhawk Wealth Advisors Inc. boosted its stake in Euroseas by 6.8% during the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 7,593 shares of the shipping company’s stock worth $371,000 after purchasing an additional 485 shares during the period. Sheaff Brock Investment Advisors LLC grew its position in Euroseas by 25.0% during the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 7,810 shares of the shipping company’s stock worth $382,000 after purchasing an additional 1,560 shares during the last quarter. Finally, Squarepoint Ops LLC increased its stake in Euroseas by 42.5% in the second quarter. Squarepoint Ops LLC now owns 12,135 shares of the shipping company’s stock valued at $424,000 after purchasing an additional 3,617 shares during the period. Hedge funds and other institutional investors own 6.27% of the company’s stock.

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.