Euroseas Ltd. (NASDAQ:ESEA) Short Interest Update

Euroseas Ltd. (NASDAQ:ESEA) saw a large growth in short interest in September. As of September 15th, there was short interest totalling 10,900 shares, a growth of 65.2% from the August 31st total of 6,600 shares. Approximately 0.4% of the company’s shares are sold short. Based on an average daily trading volume, of 36,900 shares, the days-to-cover ratio is currently 0.3 days.

Euroseas Stock Performance

NASDAQ:ESEA traded up $1.07 during trading hours on Thursday, hitting $49.44. 39,372 shares of the company were exchanged, compared to its average volume of 39,684. The stock has a market capitalization of $346.38 million, a price-to-earnings ratio of 3.25 and a beta of 0.84. Euroseas has a 52-week low of $22.50 and a 52-week high of $49.80. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.46 and a quick ratio of 1.41. The company’s 50 day moving average price is $42.69 and its 200-day moving average price is $38.73.

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

Euroseas Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Monday, September 9th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 4.85%. The ex-dividend date of this dividend was Monday, September 9th. Euroseas’s payout ratio is 15.76%.

Analyst Upgrades and Downgrades

A number of research firms have commented on ESEA. Alliance Global Partners began coverage on shares of Euroseas in a research report on Monday, September 9th. They set a “buy” rating and a $60.00 target price on the stock. Noble Financial raised shares of Euroseas to a “strong-buy” rating in a research report on Wednesday, July 10th.

Institutional Trading of Euroseas

Institutional investors and hedge funds have recently bought and sold shares of the business. CHURCHILL MANAGEMENT Corp acquired a new stake in Euroseas during the 1st quarter valued at approximately $1,300,000. Acadian Asset Management LLC lifted its stake in shares of Euroseas by 49.6% in the 1st quarter. Acadian Asset Management LLC now owns 71,763 shares of the shipping company’s stock valued at $2,570,000 after purchasing an additional 23,796 shares during the period. Janney Montgomery Scott LLC acquired a new position in shares of Euroseas in the 4th quarter valued at $447,000. Lazard Asset Management LLC lifted its stake in shares of Euroseas by 3,282.3% in 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 period. Finally, Virtu Financial LLC acquired a new position in shares of Euroseas in the 4th quarter valued at $350,000. 6.27% of the stock is currently owned by institutional investors and hedge funds.

Euroseas Company Profile

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.