Short Interest in Euroseas Ltd. (NASDAQ:ESEA) Declines By 20.0%

Euroseas Ltd. (NASDAQ:ESEA) was the recipient of a significant drop in short interest in June. As of June 15th, there was short interest totalling 9,600 shares, a drop of 20.0% from the May 31st total of 12,000 shares. Currently, 0.3% of the company’s stock are sold short. Based on an average daily trading volume, of 29,000 shares, the short-interest ratio is presently 0.3 days.

Euroseas Stock Performance

Shares of Euroseas stock opened at $38.25 on Tuesday. Euroseas has a 52 week low of $19.71 and a 52 week high of $42.29. The company has a quick ratio of 0.91, a current ratio of 0.96 and a debt-to-equity ratio of 0.38. The business has a 50 day moving average price of $36.65 and a 200-day moving average price of $36.09. The company has a market cap of $268.13 million, a PE ratio of 2.51 and a beta of 0.81.

Euroseas (NASDAQ:ESEA) last released its quarterly earnings results on Thursday, May 23rd. The shipping company reported $2.66 EPS for the quarter, missing analysts’ consensus estimates of $3.02 by ($0.36). The company had revenue of $48.29 million during the quarter, compared to analysts’ expectations of $48.10 million. Euroseas had a net margin of 54.50% and a return on equity of 39.84%. Equities analysts anticipate that Euroseas will post 9.05 earnings per share for the current fiscal year.

Euroseas Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 19th. Investors of record on Wednesday, June 12th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 6.27%. The ex-dividend date was Wednesday, June 12th. Euroseas’s dividend payout ratio (DPR) is presently 15.76%.

Institutional Investors Weigh In On Euroseas

Institutional investors have recently added to or reduced their stakes in the company. Beacon Capital Management LLC purchased a new position in shares of Euroseas in the 1st quarter worth approximately $36,000. Tucker Asset Management LLC purchased a new position in Euroseas in the fourth quarter worth $86,000. Jump Financial LLC bought a new position in Euroseas in the 4th quarter valued at $262,000. Lazard Asset Management LLC increased its position in shares of Euroseas by 3,282.3% during the 1st quarter. Lazard Asset Management LLC now owns 8,219 shares of the shipping company’s stock valued at $294,000 after purchasing an additional 7,976 shares during the last quarter. Finally, Virtu Financial LLC bought a new stake in shares of Euroseas during the 4th quarter worth $350,000. 6.27% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Noble Financial boosted their target price on shares of Euroseas from $49.00 to $53.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 12th.

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 March 31, 2024, it had a fleet of 20 containerships with a cargo carrying capacity of approximately 777,749 dwt.