Euroseas (NASDAQ:ESEA) Share Price Crosses Above Two Hundred Day Moving Average of $32.58

Shares of Euroseas Ltd. (NASDAQ:ESEA) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $32.58 and traded as high as $33.58. Euroseas shares last traded at $32.80, with a volume of 24,292 shares trading hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Euroseas from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 20th.

Euroseas Trading Down 0.9 %

The business has a 50 day simple moving average of $35.92 and a two-hundred day simple moving average of $32.58. The company has a current ratio of 1.29, a quick ratio of 1.24 and a debt-to-equity ratio of 0.37. The stock has a market cap of $229.93 million, a price-to-earnings ratio of 1.99 and a beta of 0.86.

Euroseas (NASDAQ:ESEA) last issued its quarterly earnings data on Wednesday, February 21st. The shipping company reported $3.61 earnings per share for the quarter, missing analysts’ consensus estimates of $3.85 by ($0.24). Euroseas had a net margin of 60.50% and a return on equity of 45.15%. The business had revenue of $50.69 million for the quarter, compared to analyst estimates of $50.97 million. As a group, equities analysts anticipate that Euroseas Ltd. will post 11.64 EPS for the current year.

Euroseas Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 8th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 7.32%. The ex-dividend date was Thursday, March 7th. This is a positive change from Euroseas’s previous quarterly dividend of $0.50. Euroseas’s dividend payout ratio (DPR) is 14.58%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ESEA. UBS Group AG acquired a new position in shares of Euroseas in the 3rd quarter worth approximately $51,000. Tucker Asset Management LLC bought a new stake in shares of Euroseas in the 4th quarter worth approximately $86,000. Walleye Trading LLC bought a new stake in shares of Euroseas in the 1st quarter worth approximately $221,000. Cubist Systematic Strategies LLC bought a new stake in shares of Euroseas in the 2nd quarter worth approximately $225,000. Finally, Goldman Sachs Group Inc. bought a new stake in shares of Euroseas in the 4th quarter worth approximately $253,000. Institutional investors and hedge funds own 6.27% of the company’s stock.

About Euroseas

Euroseas Ltd. provides ocean-going transportation services worldwide. The company owns and operates containerships that transport dry and refrigerated containerized cargoes, including manufactured products and perishables. As of May 02, 2023, it had a fleet of 18 vessels, including 11 feeder and 7 intermediate containerships with a cargo capacity of approximately 56, 061 twenty-foot equivalent unit.