Short Interest in Euroseas Ltd. (NASDAQ:ESEA) Increases By 22.9%

Euroseas Ltd. (NASDAQ:ESEA) was the target of a significant growth in short interest during the month of January. As of January 15th, there was short interest totalling 16,100 shares, a growth of 22.9% from the December 31st total of 13,100 shares. Based on an average trading volume of 44,900 shares, the days-to-cover ratio is presently 0.4 days. Approximately 0.6% of the company’s shares are short sold.

Euroseas Stock Performance

NASDAQ:ESEA opened at $31.01 on Friday. The company has a quick ratio of 1.59, a current ratio of 1.65 and a debt-to-equity ratio of 0.53. Euroseas has a twelve month low of $30.65 and a twelve month high of $50.92. The company has a fifty day moving average of $35.32 and a 200-day moving average of $40.13. The firm has a market capitalization of $217.38 million, a P/E ratio of 1.91 and a beta of 0.90.

Euroseas Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 17th. Stockholders of record on Monday, December 9th were issued a dividend of $0.60 per share. The ex-dividend date was Monday, December 9th. This represents a $2.40 annualized dividend and a dividend yield of 7.74%. Euroseas’s dividend payout ratio is currently 14.80%.

Analyst Ratings Changes

Separately, StockNews.com lowered Euroseas from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th.

Hedge Funds Weigh In On Euroseas

A number of institutional investors and hedge funds have recently made changes to their positions in ESEA. Squarepoint Ops LLC raised its stake in Euroseas by 42.5% during the 2nd quarter. Squarepoint Ops LLC now owns 12,135 shares of the shipping company’s stock worth $424,000 after buying an additional 3,617 shares during the period. Inspire Investing LLC acquired a new position in shares of Euroseas during the third quarter worth approximately $913,000. Redhawk Wealth Advisors Inc. lifted its holdings in shares of Euroseas by 6.8% in 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 in the last quarter. BayBridge Capital Group LLC grew its position in Euroseas by 8.7% in the 3rd quarter. BayBridge Capital Group LLC now owns 13,244 shares of the shipping company’s stock valued at $647,000 after purchasing an additional 1,057 shares during the period. Finally, Sheaff Brock Investment Advisors LLC increased its stake 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 valued at $382,000 after purchasing an additional 1,560 shares in the last quarter. 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.