Euroseas (NASDAQ:ESEA) Stock Rating Upgraded by StockNews.com

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

Other equities analysts have also recently issued research reports about the company. Alliance Global Partners initiated coverage on Euroseas in a report on Monday, September 9th. They issued a “buy” rating and a $60.00 price target on the stock. Noble Financial raised shares of Euroseas to a “strong-buy” rating in a research note on Wednesday, July 10th.

Euroseas Price Performance

Shares of ESEA stock opened at $43.30 on Friday. Euroseas has a 1 year low of $22.50 and a 1 year high of $50.92. 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 firm’s 50 day moving average is $44.70 and its 200-day moving average is $39.63. The firm has a market capitalization of $303.36 million, a price-to-earnings ratio of 2.84 and a beta of 0.85.

Euroseas (NASDAQ:ESEA) last posted its quarterly earnings data 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 firm had revenue of $60.29 million during the quarter, compared to analysts’ expectations of $49.33 million. Euroseas had a net margin of 57.36% and a return on equity of 38.07%. Sell-side analysts forecast that Euroseas will post 14.99 EPS for the current fiscal year.

Institutional Investors Weigh In On Euroseas

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ESEA. Beacon Capital Management LLC acquired a new position in shares of Euroseas during the 1st quarter worth about $36,000. Tucker Asset Management LLC acquired a new stake in Euroseas in the fourth quarter worth $86,000. Redhawk Wealth Advisors Inc. acquired a new stake in Euroseas in the second quarter worth $248,000. Lazard Asset Management LLC boosted its position in shares of Euroseas by 3,282.3% during the first quarter. Lazard Asset Management LLC now owns 8,219 shares of the shipping company’s stock worth $294,000 after purchasing an additional 7,976 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of Euroseas in the 4th quarter valued at $350,000. Institutional investors own 6.27% of the company’s stock.

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.