Short Interest in Euroseas Ltd. (NASDAQ:ESEA) Rises By 12.8%
by Tristan Rich · The Markets DailyEuroseas Ltd. (NASDAQ:ESEA – Get Free Report) was the recipient of a significant increase in short interest in September. As of September 30th, there was short interest totalling 12,300 shares, an increase of 12.8% from the September 15th total of 10,900 shares. Approximately 0.4% of the company’s stock are short sold. Based on an average daily volume of 42,300 shares, the short-interest ratio is currently 0.3 days.
Euroseas Price Performance
Shares of ESEA opened at $43.13 on Tuesday. The company has a 50 day moving average of $44.84 and a two-hundred day moving average of $39.68. The company has a market cap of $302.17 million, a price-to-earnings ratio of 2.83 and a beta of 0.85. 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 twelve month low of $22.50 and a twelve month high of $50.92.
Euroseas (NASDAQ:ESEA – Get Free Report) last announced its 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 firm had revenue of $60.29 million for the quarter, compared to the consensus estimate of $49.33 million. As a group, analysts predict that Euroseas will post 14.99 earnings per share for the current fiscal year.
Euroseas Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Monday, September 9th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 5.56%. The ex-dividend date was Monday, September 9th. Euroseas’s payout ratio is currently 15.76%.
Analysts Set New Price Targets
A number of research firms have weighed in on ESEA. StockNews.com upgraded Euroseas from a “hold” rating to a “buy” rating in a report on Saturday. Noble Financial upgraded Euroseas to a “strong-buy” rating in a research note on Wednesday, July 10th. Finally, Alliance Global Partners began coverage on shares of Euroseas in a report on Monday, September 9th. They issued a “buy” rating and a $60.00 target price for the company.
View Our Latest Stock Report on Euroseas
Institutional Trading of Euroseas
Several large investors have recently bought and sold shares of the stock. Virtu Financial LLC acquired a new stake in shares of Euroseas during the fourth quarter worth $350,000. Quadrature Capital Ltd grew its stake in Euroseas by 51.4% during the 4th quarter. Quadrature Capital Ltd now owns 46,007 shares of the shipping company’s stock valued at $1,434,000 after purchasing an additional 15,618 shares during the last quarter. CHURCHILL MANAGEMENT Corp acquired a new position in shares of Euroseas in the first quarter valued at about $1,300,000. Janney Montgomery Scott LLC raised its stake in shares of Euroseas by 18.8% in the first quarter. Janney Montgomery Scott LLC now owns 17,053 shares of the shipping company’s stock worth $611,000 after purchasing an additional 2,693 shares during the last quarter. Finally, Acadian Asset Management LLC raised its stake in shares of Euroseas by 49.6% in the first quarter. Acadian Asset Management LLC now owns 71,763 shares of the shipping company’s stock worth $2,570,000 after purchasing an additional 23,796 shares during the last quarter. Hedge funds and other institutional investors own 6.27% of the company’s stock.
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.
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