Euroseas (NASDAQ:ESEA - Get Free Report) was upgraded by investment analysts at StockNews.com from a "hold" rating to a "buy" rating in a report released on Monday.
Euroseas Price Performance
Shares of NASDAQ:ESEA traded up $0.54 during mid-day trading on Monday, reaching $33.45. The stock had a trading volume of 35,689 shares, compared to its average volume of 37,404. The business's 50 day moving average price is $33.66 and its 200 day moving average price is $39.12. Euroseas has a 1 year low of $30.21 and a 1 year high of $50.92. The company has a market cap of $234.35 million, a P/E ratio of 2.06 and a beta of 0.85. The company has a current ratio of 1.65, a quick ratio of 1.59 and a debt-to-equity ratio of 0.53.
Institutional Investors Weigh In On Euroseas
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC boosted its holdings in shares of Euroseas by 17.0% in the 4th quarter. Renaissance Technologies LLC now owns 115,078 shares of the shipping company's stock worth $4,166,000 after purchasing an additional 16,700 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in Euroseas by 389.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 53,840 shares of the shipping company's stock worth $1,949,000 after buying an additional 42,830 shares during the last quarter. Millennium Management LLC boosted its stake in Euroseas by 661.4% during the fourth quarter. Millennium Management LLC now owns 40,931 shares of the shipping company's stock worth $1,482,000 after buying an additional 35,555 shares during the period. Marshall Wace LLP increased its position in Euroseas by 71.5% during the fourth quarter. Marshall Wace LLP now owns 40,703 shares of the shipping company's stock valued at $1,473,000 after acquiring an additional 16,969 shares during the last quarter. Finally, Lazard Asset Management LLC raised its stake in shares of Euroseas by 30.9% in the fourth quarter. Lazard Asset Management LLC now owns 30,165 shares of the shipping company's stock valued at $1,091,000 after acquiring an additional 7,127 shares during the period. 6.27% of the stock is currently owned by hedge funds and other institutional investors.
About Euroseas
(
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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.
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