Euroseas (NASDAQ:ESEA) Share Price Passes Above Two Hundred Day Moving Average – Time to Sell?

Euroseas Ltd. (NASDAQ:ESEA)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $64.47 and traded as high as $71.61. Euroseas shares last traded at $69.23, with a volume of 49,941 shares traded.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Wall Street Zen upgraded shares of Euroseas from a “hold” rating to a “buy” rating in a research report on Monday, June 1st. Weiss Ratings cut shares of Euroseas from a “buy (b)” rating to a “hold (c)” rating in a research report on Tuesday, May 26th. Zacks Research raised shares of Euroseas from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 30th. Finally, Alliance Global Partners restated a “buy” rating on shares of Euroseas in a report on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Euroseas presently has a consensus rating of “Buy”.

Euroseas Price Performance

The company has a current ratio of 5.46, a quick ratio of 5.38 and a debt-to-equity ratio of 0.39. The stock has a 50-day simple moving average of $68.31 and a 200 day simple moving average of $64.47. The stock has a market capitalization of $488.76 million, a price-to-earnings ratio of 3.65 and a beta of 0.45.

Euroseas (NASDAQ:ESEA) last issued its earnings results on Thursday, May 21st. The shipping company reported $4.70 earnings per share for the quarter, beating analysts’ consensus estimates of $4.26 by $0.44. The company 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%. On average, equities research analysts forecast that Euroseas Ltd. will post 18.1 EPS for the current fiscal year.

Euroseas Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 16th. Investors of record on Tuesday, June 9th were given a dividend of $0.80 per share. The ex-dividend date of this dividend was 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 yield of 4.6%. Euroseas’s payout ratio is presently 16.86%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Millennium Management LLC boosted 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 last quarter. Inspire Investing LLC acquired a new position in Euroseas in the 1st quarter worth about $1,591,000. Raymond James Financial Inc. acquired a new position in Euroseas in the 2nd quarter worth about $870,000. Mackenzie Financial Corp purchased a new stake in shares of Euroseas during the 3rd quarter worth about $1,136,000. Finally, Two Sigma Investments LP purchased a new stake in shares of Euroseas during the 3rd quarter worth about $989,000. Institutional investors and hedge funds own 6.27% of the company’s stock.

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.