Euroseas (NASDAQ:ESEA) Upgraded to Buy at Wall Street Zen

Euroseas (NASDAQ:ESEA) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Monday.

Several other equities research analysts also recently weighed in on the stock. Weiss Ratings downgraded shares of Euroseas from a “buy (b)” rating to a “hold (c)” rating in a research note on Tuesday, May 26th. Alliance Global Partners reiterated a “buy” rating on shares of Euroseas in a research note on Monday, April 20th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $62.00.

Euroseas Price Performance

Shares of ESEA opened at $63.53 on Monday. The company has a market cap of $448.53 million, a price-to-earnings ratio of 3.35 and a beta of 0.49. Euroseas has a twelve month low of $37.52 and a twelve month high of $78.76. The company has a quick ratio of 5.38, a current ratio of 5.46 and a debt-to-equity ratio of 0.39. The company has a 50 day moving average of $68.43 and a two-hundred day moving average of $62.03.

Euroseas (NASDAQ:ESEA) last announced its earnings results on Thursday, May 21st. The shipping company reported $4.70 earnings per share for the quarter, beating the consensus estimate of $4.26 by $0.44. The company had revenue of $55.84 million during the quarter, compared to the consensus estimate of $56.61 million. Euroseas had a net margin of 58.31% and a return on equity of 27.55%. As a group, analysts predict that Euroseas will post 18.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ESEA. Millennium Management LLC lifted 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 valued at $2,915,000 after purchasing an additional 33,738 shares during the period. Inspire Investing LLC acquired a new position in Euroseas during the first quarter valued at $1,591,000. Raymond James Financial Inc. acquired a new position in Euroseas during the second quarter valued at $870,000. Mackenzie Financial Corp acquired a new position in Euroseas during the third quarter valued at $1,136,000. Finally, Two Sigma Investments LP acquired a new position in Euroseas during the third quarter valued at $989,000. 6.27% of the stock is currently owned by institutional investors and hedge funds.

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.