Euroseas Ltd. (NASDAQ:ESEA) was upgraded by research analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a research report issued on Saturday.

Separately, Zacks Investment Research cut shares of Euroseas from a “buy” rating to a “hold” rating in a research report on Monday, May 8th.

Euroseas (NASDAQ ESEA) traded down 0.79% during midday trading on Friday, hitting $1.25. 34,441 shares of the stock were exchanged. Euroseas has a 12-month low of $1.04 and a 12-month high of $8.07. The firm has a 50 day moving average of $1.28 and a 200-day moving average of $1.50. The stock’s market cap is $13.97 million.

Euroseas (NASDAQ:ESEA) last released its quarterly earnings results on Friday, May 12th. The shipping company reported ($0.29) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.15) by $0.14. Euroseas had a negative return on equity of 20.36% and a negative net margin of 144.43%. The firm had revenue of $8.29 million for the quarter. On average, equities analysts expect that Euroseas will post ($0.48) earnings per share for the current year.

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An institutional investor recently raised its position in Euroseas stock. Renaissance Technologies LLC increased its stake in Euroseas Ltd. (NASDAQ:ESEA) by 28.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 198,670 shares of the shipping company’s stock after buying an additional 43,800 shares during the period. Renaissance Technologies LLC owned 2.42% of Euroseas worth $336,000 at the end of the most recent reporting period. Institutional investors own 2.82% of the company’s stock.

Euroseas Company Profile

Euroseas Ltd. is engaged in the shipping business. The Company is an owner and operator of drybulk and container carrier vessels and is a provider of seaborne transportation for drybulk and containerized cargoes. Eurobulk Ltd. manages the Company’s operations. The Company also owns and operates dry bulk carriers that transport major bulks, such as iron ore, coal and grains, and minor bulks, such as bauxite, phosphate and fertilizers.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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