Euroseas (NASDAQ:ESEA) Stock Passes Above Two Hundred Day Moving Average of $28.56

Euroseas Ltd. (NASDAQ:ESEAGet Free Report) shares passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $28.56 and traded as high as $42.29. Euroseas shares last traded at $40.27, with a volume of 40,856 shares traded.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Euroseas from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 20th.

Read Our Latest Stock Analysis on Euroseas

Euroseas Stock Down 0.8 %

The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.29 and a current ratio of 1.34. The stock has a market capitalization of $282.29 million, a price-to-earnings ratio of 2.56 and a beta of 0.87. The firm’s fifty day simple moving average is $33.77 and its 200 day simple moving average is $28.56.

Euroseas (NASDAQ:ESEAGet Free Report) last posted its quarterly earnings data on Thursday, November 9th. The shipping company reported $4.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.01 by $1.06. Euroseas had a net margin of 60.14% and a return on equity of 46.99%. The company had revenue of $52.32 million for the quarter, compared to the consensus estimate of $43.66 million. On average, sell-side analysts forecast that Euroseas Ltd. will post 14.19 earnings per share for the current year.

Euroseas Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Saturday, December 16th. Investors of record on Saturday, December 9th were issued a dividend of $0.50 per share. The ex-dividend date was Thursday, December 7th. This represents a $2.00 dividend on an annualized basis and a yield of 4.97%. Euroseas’s payout ratio is 12.69%.

Hedge Funds Weigh In On Euroseas

A number of institutional investors have recently added to or reduced their stakes in ESEA. Cambridge Investment Research Advisors Inc. bought a new position in Euroseas during the first quarter worth $274,000. UBS Group AG boosted its position in Euroseas by 375.3% during the first quarter. UBS Group AG now owns 8,232 shares of the shipping company’s stock worth $238,000 after purchasing an additional 6,500 shares during the period. Goldman Sachs Group Inc. bought a new position in Euroseas during the first quarter worth $308,000. Walleye Trading LLC bought a new position in Euroseas during the first quarter worth $221,000. Finally, Walleye Capital LLC bought a new position in Euroseas during the first quarter worth $766,000. 2.75% of the stock is currently owned by institutional investors and hedge funds.

Euroseas Company Profile

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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 02, 2023, it had a fleet of 18 vessels, including 11 feeder and 7 intermediate containerships with a cargo capacity of approximately 56, 061 twenty-foot equivalent unit.

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