Euroseas (NASDAQ:ESEA) Shares Pass Above Two Hundred Day Moving Average of $38.52

Euroseas Ltd. (NASDAQ:ESEA)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $38.52 and traded as high as $45.95. Euroseas shares last traded at $45.03, with a volume of 52,690 shares trading hands.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ESEA shares. Alliance Global Partners assumed coverage on Euroseas in a research note on Monday, September 9th. They issued a “buy” rating and a $60.00 target price on the stock. Noble Financial upgraded Euroseas to a “strong-buy” rating in a report on Wednesday, July 10th.

Euroseas Stock Performance

The company has a 50-day simple moving average of $42.11 and a two-hundred day simple moving average of $38.52. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.41 and a current ratio of 1.46. The firm has a market capitalization of $315.48 million, a P/E ratio of 2.96 and a beta of 0.84.

Euroseas (NASDAQ:ESEA) last released its quarterly earnings results on Tuesday, August 6th. The shipping company reported $4.92 earnings per share for the quarter, beating the consensus estimate of $2.49 by $2.43. The company had revenue of $60.29 million for the quarter, compared to analyst estimates of $49.33 million. Euroseas had a return on equity of 38.07% and a net margin of 57.36%. As a group, equities analysts forecast that Euroseas Ltd. will post 13.24 EPS for the current year.

Euroseas Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Monday, September 9th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.33%. The ex-dividend date of this dividend was Monday, September 9th. Euroseas’s dividend payout ratio is presently 15.76%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Squarepoint Ops LLC boosted its stake in Euroseas by 42.5% during the second quarter. Squarepoint Ops LLC now owns 12,135 shares of the shipping company’s stock worth $424,000 after acquiring an additional 3,617 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Euroseas by 3.0% during the second quarter. Renaissance Technologies LLC now owns 97,478 shares of the shipping company’s stock valued at $3,403,000 after purchasing an additional 2,877 shares during the last quarter. Acadian Asset Management LLC boosted its position in shares of Euroseas by 2.2% in the 2nd quarter. Acadian Asset Management LLC now owns 73,365 shares of the shipping company’s stock worth $2,559,000 after purchasing an additional 1,602 shares in the last quarter. Redhawk Wealth Advisors Inc. purchased a new stake in shares of Euroseas in the 2nd quarter worth approximately $248,000. Finally, Beacon Capital Management LLC purchased a new stake in shares of Euroseas in the 1st quarter worth approximately $36,000. 6.27% of the stock is currently owned by institutional investors.

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.