Euroseas (NASDAQ:ESEA) Stock Price Passes Above Two Hundred Day Moving Average – Here’s Why

Shares of Euroseas Ltd. (NASDAQ:ESEA) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $58.95 and traded as high as $64.00. Euroseas shares last traded at $60.81, with a volume of 84,487 shares traded.

Analyst Upgrades and Downgrades

ESEA has been the subject of a number of research analyst reports. Wall Street Zen upgraded Euroseas from a “hold” rating to a “buy” rating in a report on Saturday. Weiss Ratings reissued a “buy (b-)” rating on shares of Euroseas in a report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Euroseas currently has a consensus rating of “Moderate Buy” and a consensus price target of $62.00.

Euroseas Stock Performance

The company has a debt-to-equity ratio of 0.43, a current ratio of 4.89 and a quick ratio of 4.82. The stock’s 50-day moving average price is $60.84 and its 200-day moving average price is $58.95. The company has a market cap of $426.28 million, a P/E ratio of 3.10 and a beta of 0.80.

Euroseas (NASDAQ:ESEA) last released its quarterly earnings results on Thursday, February 26th. The shipping company reported $4.48 EPS for the quarter, topping analysts’ consensus estimates of $4.47 by $0.01. Euroseas had a net margin of 60.11% and a return on equity of 27.82%. The business had revenue of $57.39 million for the quarter, compared to analyst estimates of $57.83 million. Equities analysts anticipate that Euroseas Ltd. will post 15.15 EPS for the current year.

Euroseas Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 17th. Stockholders of record on Tuesday, March 10th were issued a dividend of $0.75 per share. This is a boost from Euroseas’s previous quarterly dividend of $0.70. This represents a $3.00 annualized dividend and a dividend yield of 4.9%. The ex-dividend date of this dividend was Tuesday, March 10th. Euroseas’s payout ratio is 15.29%.

Institutional Investors Weigh In On Euroseas

Several institutional investors have recently made changes to their positions in ESEA. Millennium Management LLC grew its position in Euroseas by 171.7% during the fourth quarter. Millennium Management LLC now owns 53,386 shares of the shipping company’s stock worth $2,915,000 after buying an additional 33,738 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Euroseas in the 2nd quarter valued at $870,000. Mackenzie Financial Corp acquired a new position in Euroseas in the 3rd quarter valued at $1,136,000. Two Sigma Investments LP bought a new stake in shares of Euroseas during the 3rd quarter valued at $989,000. Finally, Citadel Advisors LLC grew its holdings in shares of Euroseas by 144.9% during the 3rd quarter. Citadel Advisors LLC now owns 26,576 shares of the shipping company’s stock worth $1,584,000 after purchasing an additional 15,724 shares in the last quarter. 6.27% of the stock is currently owned by institutional investors.

Euroseas Company Profile

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.