Short Interest in Euroseas Ltd. (NASDAQ:ESEA) Increases By 68.1%

Euroseas Ltd. (NASDAQ:ESEA) was the recipient of a large growth in short interest in April. As of April 15th, there was short interest totalling 7,900 shares, a growth of 68.1% from the March 31st total of 4,700 shares. Based on an average trading volume of 42,500 shares, the short-interest ratio is presently 0.2 days. Currently, 0.3% of the company’s stock are sold short.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Euroseas

Institutional investors and hedge funds have recently made changes to their positions in the stock. Acadian Asset Management LLC bought a new stake in shares of Euroseas during the 3rd quarter worth approximately $551,000. Quadrature Capital Ltd bought a new stake in shares of Euroseas during the 3rd quarter worth approximately $807,000. CHURCHILL MANAGEMENT Corp bought a new stake in shares of Euroseas during the 1st quarter worth approximately $1,300,000. Virtu Financial LLC bought a new stake in shares of Euroseas during the 4th quarter worth approximately $350,000. Finally, Tucker Asset Management LLC bought a new stake in shares of Euroseas during the 4th quarter worth approximately $86,000. Institutional investors own 6.27% of the company’s stock.

Euroseas Trading Down 0.2 %

NASDAQ ESEA opened at $33.91 on Friday. The stock has a market capitalization of $237.71 million, a price-to-earnings ratio of 2.06 and a beta of 0.86. The stock’s 50 day moving average price is $35.62 and its two-hundred day moving average price is $32.81. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.24 and a current ratio of 1.29. Euroseas has a 52 week low of $18.05 and a 52 week high of $42.29.

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

Euroseas Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 8th were paid a dividend of $0.60 per share. The ex-dividend date was Thursday, March 7th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 7.08%. This is a boost from Euroseas’s previous quarterly dividend of $0.50. Euroseas’s dividend payout ratio is currently 14.58%.

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.