Euroseas (NASDAQ:ESEA) Stock Passes Above 200-Day Moving Average – Should You Sell?

Euroseas Ltd. (NASDAQ:ESEA)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $62.30 and traded as high as $67.39. Euroseas shares last traded at $66.91, with a volume of 86,130 shares.

Analyst Ratings Changes

A number of equities analysts recently commented 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. Wall Street Zen raised shares of Euroseas from a “hold” rating to a “buy” rating in a research note on Monday, June 1st. Finally, Alliance Global Partners reissued a “buy” rating on shares of Euroseas in a research note on Monday, April 20th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $62.00.

Euroseas Stock Performance

The business has a 50-day moving average price of $68.45 and a 200-day moving average price of $62.30. The firm has a market capitalization of $472.38 million, a price-to-earnings ratio of 3.53 and a beta of 0.49. The company has a quick ratio of 5.38, a current ratio of 5.46 and a debt-to-equity ratio of 0.39.

Euroseas (NASDAQ:ESEA) last issued its quarterly earnings results on Thursday, May 21st. The shipping company reported $4.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.26 by $0.44. The business had revenue of $55.84 million for the quarter, compared to the consensus estimate of $56.61 million. Euroseas had a return on equity of 27.55% and a net margin of 58.31%. As a group, sell-side analysts forecast that Euroseas Ltd. will post 18.1 earnings per share for the current year.

Euroseas Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 16th. Stockholders of record on Tuesday, June 9th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Tuesday, June 9th. This is a boost from Euroseas’s previous quarterly dividend of $0.75. This represents a $3.20 dividend on an annualized basis and a dividend yield of 4.8%. Euroseas’s payout ratio is currently 15.81%.

Hedge Funds Weigh In On Euroseas

Large investors have recently made changes to their positions in the business. North Star Investment Management Corp. acquired a new position in shares of Euroseas during the fourth quarter worth $819,000. Commons Capital LLC acquired a new position in shares of Euroseas during the fourth quarter worth $563,000. Navellier & Associates Inc. acquired a new position in shares of Euroseas during the fourth quarter worth $537,000. Magnetar Financial LLC acquired a new position in shares of Euroseas during the fourth quarter worth $204,000. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of Euroseas by 540.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,280 shares of the shipping company’s stock worth $76,000 after purchasing an additional 1,080 shares in the last quarter. 6.27% of the stock is owned by institutional investors and hedge funds.

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.