Euroseas (NASDAQ:ESEA) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Euroseas Ltd. (NASDAQ:ESEA) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $63.10 and traded as high as $69.75. Euroseas shares last traded at $67.81, with a volume of 49,354 shares traded.

Analyst Ratings Changes

A number of analysts have recently issued reports on ESEA shares. Wall Street Zen raised Euroseas from a “hold” rating to a “buy” rating in a research report on Monday, June 1st. Weiss Ratings lowered Euroseas from a “buy (b)” rating to a “hold (c)” rating in a report on Tuesday, May 26th. Finally, Alliance Global Partners restated a “buy” rating on shares of Euroseas in a research note on Monday, April 20th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold”.

Euroseas Trading Down 0.7%

The company has a market cap of $478.74 million, a price-to-earnings ratio of 3.57 and a beta of 0.49. 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 business’s 50 day moving average price is $68.96 and its 200-day moving average price is $63.10.

Euroseas (NASDAQ:ESEA) last announced its quarterly earnings results on Thursday, May 21st. The shipping company reported $4.70 EPS for the quarter, beating analysts’ consensus estimates of $4.26 by $0.44. The business had revenue of $55.84 million for the quarter, compared to analyst estimates of $56.61 million. Euroseas had a net margin of 58.31% and a return on equity of 27.55%. On average, equities analysts anticipate that Euroseas Ltd. will post 18.1 EPS for the current fiscal year.

Euroseas Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 16th. Stockholders of record on Tuesday, June 9th were issued a dividend of $0.80 per share. 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 4.7%. The ex-dividend date was Tuesday, June 9th. Euroseas’s dividend payout ratio is presently 16.86%.

Hedge Funds Weigh In On Euroseas

Several institutional investors and hedge funds have recently made changes to their positions in the company. Russell Investments Group Ltd. bought a new position in shares of Euroseas during the fourth quarter worth approximately $34,000. Bank of America Corp DE boosted its stake in Euroseas by 387.8% in the 2nd quarter. Bank of America Corp DE now owns 1,117 shares of the shipping company’s stock valued at $50,000 after purchasing an additional 888 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in Euroseas by 540.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,280 shares of the shipping company’s stock valued at $76,000 after buying an additional 1,080 shares in the last quarter. Quarry LP acquired a new position in Euroseas in the 3rd quarter valued at $89,000. Finally, Magnetar Financial LLC acquired a new position in Euroseas in the 4th quarter valued at $204,000. 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.