Euroseas (NASDAQ:ESEA) Price Target Lowered to $30.00 at Univest Sec

Euroseas (NASDAQ:ESEAGet Rating) had its target price lowered by Univest Sec from $50.00 to $30.00 in a research note published on Thursday, The Fly reports.

A number of other equities research analysts have also recently commented on ESEA. StockNews.com cut shares of Euroseas from a buy rating to a hold rating in a research note on Friday, November 11th. TheStreet lowered shares of Euroseas from a b rating to a c+ rating in a report on Monday, September 26th. Finally, Maxim Group reduced their target price on shares of Euroseas from $54.00 to $44.00 and set a buy rating on the stock in a report on Thursday, October 6th.

Euroseas Price Performance

Shares of NASDAQ ESEA opened at $20.56 on Thursday. The stock has a market cap of $149.96 million, a price-to-earnings ratio of 1.37 and a beta of 0.62. Euroseas has a 52 week low of $18.30 and a 52 week high of $35.47. The company’s 50-day moving average price is $20.59 and its 200 day moving average price is $23.60. The company has a current ratio of 0.62, a quick ratio of 0.18 and a debt-to-equity ratio of 0.49.

Euroseas Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 16th. Stockholders of record on Friday, December 9th will be issued a dividend of $0.50 per share. The ex-dividend date is Thursday, December 8th. This represents a $2.00 annualized dividend and a dividend yield of 9.73%. Euroseas’s payout ratio is currently 13.33%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Euroseas by 10.3% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 10,425 shares of the shipping company’s stock worth $249,000 after acquiring an additional 977 shares during the period. UBS Group AG lifted its holdings in shares of Euroseas by 375.3% during the 1st quarter. UBS Group AG now owns 8,232 shares of the shipping company’s stock worth $238,000 after acquiring an additional 6,500 shares during the period. M&T Bank Corp purchased a new position in shares of Euroseas during the 1st quarter worth about $200,000. Walleye Trading LLC purchased a new position in shares of Euroseas during the 1st quarter worth about $221,000. Finally, Dupont Capital Management Corp purchased a new position in shares of Euroseas during the 2nd quarter worth about $184,000. 6.75% of the stock is currently owned by hedge funds and other institutional investors.

About Euroseas

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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 May 03, 2022, it had a fleet of 18 vessels, including 10 feeder and 8 intermediate containerships with a cargo capacity of approximately 58,871 twenty-foot equivalent unit (teu).

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