Euroseas Ltd. (NASDAQ:ESEA) Short Interest Up 68.1% in April

Euroseas Ltd. (NASDAQ:ESEA) was the recipient of a large growth in short interest during the month of April. As of April 15th, there was short interest totalling 7,900 shares, a growth of 68.1% from the March 31st total of 4,700 shares. Currently, 0.3% of the company’s shares are short sold. Based on an average trading volume of 42,500 shares, the days-to-cover ratio is presently 0.2 days.

Euroseas Trading Down 0.2 %

ESEA opened at $33.91 on Monday. Euroseas has a fifty-two week low of $18.05 and a fifty-two week high of $42.29. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.29 and a quick ratio of 1.24. The firm has a market capitalization of $237.71 million, a price-to-earnings ratio of 2.06 and a beta of 0.86. The company’s 50 day moving average price is $35.59 and its two-hundred day moving average price is $32.89.

Euroseas (NASDAQ:ESEA) last posted its earnings results on Wednesday, February 21st. The shipping company reported $3.61 earnings per share for the quarter, missing analysts’ consensus estimates of $3.85 by ($0.24). Euroseas had a return on equity of 45.15% and a net margin of 60.50%. The business had revenue of $50.69 million for the quarter, compared to the consensus estimate of $50.97 million. As a group, research analysts predict that Euroseas will post 11.64 earnings per share for the current year.

Euroseas Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 8th were paid a $0.60 dividend. This is a positive change from Euroseas’s previous quarterly dividend of $0.50. This represents a $2.40 dividend on an annualized basis and a dividend yield of 7.08%. The ex-dividend date of this dividend was Thursday, March 7th. Euroseas’s dividend payout ratio is currently 14.58%.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Euroseas

Institutional investors have recently modified their holdings of the company. Acadian Asset Management LLC bought a new stake in shares of Euroseas in the 3rd quarter valued at $551,000. Quadrature Capital Ltd acquired a new position in shares of Euroseas during the 3rd quarter valued at $807,000. CHURCHILL MANAGEMENT Corp acquired a new position in shares of Euroseas during the 1st quarter valued at $1,300,000. Virtu Financial LLC acquired a new position in shares of Euroseas during the 4th quarter valued at $350,000. Finally, Tucker Asset Management LLC acquired a new position in shares of Euroseas during the 4th quarter valued at $86,000. 6.27% of the stock is owned by institutional investors.

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 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.