Euroseas (NASDAQ:ESEA) Downgraded to “Hold” at StockNews.com

Euroseas (NASDAQ:ESEA) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

A number of other analysts have also recently weighed in on the company. Noble Financial upgraded Euroseas to a “strong-buy” rating in a research report on Wednesday, July 10th. Alliance Global Partners started coverage on shares of Euroseas in a report on Monday, September 9th. They set a “buy” rating and a $60.00 price objective for the company.

Euroseas Trading Down 11.5 %

ESEA stock traded down $5.80 during midday trading on Friday, hitting $44.56. 184,170 shares of the company’s stock were exchanged, compared to its average volume of 40,681. The company has a current ratio of 1.46, a quick ratio of 1.41 and a debt-to-equity ratio of 0.52. The business has a 50-day simple moving average of $43.85 and a two-hundred day simple moving average of $39.20. Euroseas has a 1-year low of $22.50 and a 1-year high of $50.92. The stock has a market capitalization of $312.19 million, a PE ratio of 2.93 and a beta of 0.84.

Euroseas (NASDAQ:ESEA) last announced its quarterly earnings results on Tuesday, August 6th. The shipping company reported $4.92 EPS for the quarter, beating the consensus estimate of $2.49 by $2.43. Euroseas had a net margin of 57.36% and a return on equity of 38.07%. The company had revenue of $60.29 million for the quarter, compared to analyst estimates of $49.33 million. On average, sell-side analysts predict that Euroseas will post 13.24 EPS for the current fiscal year.

Hedge Funds Weigh In On Euroseas

Large investors have recently added to or reduced their stakes in the business. CHURCHILL MANAGEMENT Corp bought a new position in shares of Euroseas in the first quarter valued at approximately $1,300,000. Acadian Asset Management LLC grew its position 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 worth $2,570,000 after buying an additional 23,796 shares during the last quarter. Quadrature Capital Ltd raised its holdings in Euroseas by 51.4% in the 4th quarter. Quadrature Capital Ltd now owns 46,007 shares of the shipping company’s stock worth $1,434,000 after purchasing an additional 15,618 shares in the last quarter. Virtu Financial LLC bought a new position in Euroseas in the fourth quarter worth about $350,000. Finally, Lazard Asset Management LLC raised its position 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 worth $294,000 after acquiring an additional 7,976 shares in the last quarter. Institutional investors own 6.27% of the company’s stock.

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.