Euroseas Ltd. (NASDAQ:ESEA) Upgraded at Zacks Investment Research
Euroseas Ltd. (NASDAQ:ESEA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Wednesday.
According to Zacks, “EUROSEAS LTD. was formed under the laws of the Republic of the Marshall Islands to consolidate the ship owning interests of the Pittas family of Athens, Greece, which has been in the shipping business over the past 136 years. Euroseas trades on the NASDAQ Global Select Market under the ticker ESEA. Euroseas operates in the dry cargo, drybulk and container shipping markets. Euroseas’ operations are managed by Eurobulk Ltd., an ISO 9001:2000 certified affiliated ship management company, which is responsible for the day-to-day commercial and technical management and operations of the vessels. Euroseas employs its vessels on spot and period charters and through pool arrangements. “
Separately, ValuEngine raised Euroseas from a “strong sell” rating to a “sell” rating in a research note on Saturday, July 8th.
Shares of Euroseas (NASDAQ ESEA) traded down 2.92% during midday trading on Wednesday, hitting $1.33. The stock had a trading volume of 24,195 shares. The company’s market cap is $14.87 million. The company’s 50 day moving average is $1.29 and its 200 day moving average is $1.44. Euroseas has a 52-week low of $1.04 and a 52-week high of $8.07.
Euroseas (NASDAQ:ESEA) last released its earnings results on Friday, May 12th. The shipping company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by $0.14. The business had revenue of $8.29 million for the quarter. Euroseas had a negative net margin of 144.43% and a negative return on equity of 20.36%. On average, analysts anticipate 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 boosted its stake in Euroseas Ltd. (NASDAQ:ESEA) by 28.3% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 198,670 shares of the shipping company’s stock after buying an additional 43,800 shares during the period. Renaissance Technologies LLC owned approximately 2.42% of Euroseas worth $336,000 as of its most recent SEC filing. 2.82% of the stock is currently owned by institutional investors and hedge funds.
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.
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