Short Interest in Euroseas Ltd. (NASDAQ:ESEA) Expands By 27.8%

Euroseas Ltd. (NASDAQ:ESEA - Get Free Report) was the target of a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 34,000 shares, an increase of 27.8% from the March 15th total of 26,600 shares. Approximately 1.2% of the company's stock are sold short. Based on an average daily volume of 37,600 shares, the days-to-cover ratio is presently 0.9 days.

Institutional Trading of Euroseas

Hedge funds and other institutional investors have recently bought and sold shares of the business. Barclays PLC increased its holdings in shares of Euroseas by 67.5% in the 3rd quarter. Barclays PLC now owns 623 shares of the shipping company's stock valued at $30,000 after acquiring an additional 251 shares during the last quarter. Bank of America Corp DE boosted its holdings in Euroseas by 1,611.0% in the fourth quarter. Bank of America Corp DE now owns 1,865 shares of the shipping company's stock valued at $68,000 after purchasing an additional 1,756 shares in the last quarter. Retireful LLC purchased a new position in Euroseas in the fourth quarter valued at approximately $222,000. Geode Capital Management LLC purchased a new position in Euroseas in the third quarter valued at approximately $248,000. Finally, Exchange Traded Concepts LLC acquired a new stake in Euroseas during the fourth quarter worth approximately $306,000. 6.27% of the stock is currently owned by institutional investors and hedge funds.

Euroseas Stock Up 2.1 %

Euroseas stock traded up $0.64 during trading on Thursday, reaching $30.75. The stock had a trading volume of 5,543 shares, compared to its average volume of 38,387. Euroseas has a 52-week low of $26.30 and a 52-week high of $50.92. The business has a 50 day moving average price of $31.30 and a 200 day moving average price of $35.39. The company has a quick ratio of 1.59, a current ratio of 1.65 and a debt-to-equity ratio of 0.53. The stock has a market cap of $215.43 million, a PE ratio of 1.90 and a beta of 0.66.

Euroseas Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 11th were issued a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 8.46%. The ex-dividend date of this dividend was Tuesday, March 11th. This is a positive change from Euroseas's previous quarterly dividend of $0.60. Euroseas's dividend payout ratio is 16.10%.

Analyst Ratings Changes

Separately, StockNews.com began coverage on shares of Euroseas in a report on Saturday, March 22nd. They set a "buy" rating on the 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.