Euroseas (NASDAQ:ESEA) Share Price Passes Above Two Hundred Day Moving Average – What’s Next?

Euroseas Ltd. (NASDAQ:ESEA)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $57.18 and traded as high as $58.02. Euroseas shares last traded at $57.18, with a volume of 31,205 shares changing hands.

Analysts Set New Price Targets

A number of research firms have issued reports on ESEA. Zacks Research lowered shares of Euroseas from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 14th. Weiss Ratings reissued a “buy (b-)” rating on shares of Euroseas in a research note on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $62.00.

Euroseas Trading Down 1.4%

The stock has a market capitalization of $400.83 million, a price-to-earnings ratio of 3.30 and a beta of 0.74. The company has a debt-to-equity ratio of 0.47, a current ratio of 3.59 and a quick ratio of 3.53. The business’s 50-day simple moving average is $56.33 and its two-hundred day simple moving average is $57.18.

Euroseas Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 16th. Shareholders of record on Tuesday, December 9th were given a $0.70 dividend. The ex-dividend date of this dividend was Tuesday, December 9th. This represents a $2.80 annualized dividend and a yield of 4.9%. Euroseas’s dividend payout ratio (DPR) is 16.17%.

Hedge Funds Weigh In On Euroseas

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ESEA. Bank of America Corp DE boosted its stake in shares of Euroseas by 1,611.0% during the 4th quarter. Bank of America Corp DE now owns 1,865 shares of the shipping company’s stock valued at $68,000 after buying an additional 1,756 shares during the last quarter. Commons Capital LLC acquired a new stake in Euroseas in the second quarter valued at $255,000. Allworth Financial LP bought a new position in Euroseas during the 2nd quarter valued at $45,000. Geode Capital Management LLC bought a new position in Euroseas during the 2nd quarter valued at $226,000. Finally, Quadrature Capital Ltd acquired a new position in Euroseas during the 2nd quarter worth $319,000. 6.27% of the stock is owned by hedge funds and other institutional investors.

About Euroseas

Euroseas Ltd. (NASDAQ: ESEA) is an international shipping company specializing in seaborne transportation of containerized and drybulk cargoes. Incorporated in Bermuda with its principal operations and management office based in Athens, Greece, the company owns and charters a diversified fleet of containerships, drybulk carriers and multipurpose vessels. Euroseas provides tailored shipping solutions on time-charter and voyage-charter agreements, serving manufacturers, commodity traders and logistics providers across major trade routes.

Euroseas’s fleet comprises both owned and chartered tonnage, enabling the company to adjust capacity to market conditions and customer requirements.