StockNews.com Downgrades Euroseas (NASDAQ:ESEA) to Hold

Euroseas (NASDAQ:ESEA) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

Separately, 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 price objective for the company.

Euroseas Price Performance

NASDAQ:ESEA opened at $40.13 on Tuesday. The firm’s fifty day moving average price is $43.68 and its two-hundred day moving average price is $40.68. 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 has a market cap of $281.31 million, a P/E ratio of 2.37 and a beta of 0.88. Euroseas has a one year low of $26.20 and a one year high of $50.92.

Institutional Trading of Euroseas

Several hedge funds and other institutional investors have recently bought and sold shares of ESEA. Renaissance Technologies LLC boosted its position in shares of Euroseas by 3.0% during the 2nd quarter. Renaissance Technologies LLC now owns 97,478 shares of the shipping company’s stock worth $3,403,000 after acquiring an additional 2,877 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in Euroseas by 2.2% in the second quarter. Acadian Asset Management LLC now owns 73,365 shares of the shipping company’s stock valued at $2,559,000 after acquiring an additional 1,602 shares during the last quarter. Inspire Investing LLC acquired a new stake in Euroseas during the 3rd quarter valued at approximately $913,000. Janney Montgomery Scott LLC increased its position in Euroseas by 18.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 17,053 shares of the shipping company’s stock valued at $611,000 after purchasing an additional 2,693 shares during the period. Finally, BayBridge Capital Group LLC raised its holdings in Euroseas by 8.7% during the 3rd quarter. BayBridge Capital Group LLC now owns 13,244 shares of the shipping company’s stock worth $647,000 after purchasing an additional 1,057 shares during the last quarter. Institutional investors and hedge funds 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.