Euroseas Ltd. (NASDAQ:ESEA) Short Interest Update

Euroseas Ltd. (NASDAQ:ESEA - Get Free Report) saw a significant increase in short interest in the month of September. As of September 30th, there was short interest totalling 12,300 shares, an increase of 12.8% from the September 15th total of 10,900 shares. Based on an average trading volume of 42,300 shares, the short-interest ratio is currently 0.3 days. Currently, 0.4% of the shares of the company are short sold.

Euroseas Price Performance

Euroseas stock traded down $0.74 during mid-day trading on Tuesday, reaching $42.39. 32,260 shares of the company were exchanged, compared to its average volume of 41,403. The firm has a market cap of $296.98 million, a PE ratio of 2.78 and a beta of 0.85. 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 fifty day simple moving average of $44.84 and a 200-day simple moving average of $39.68. Euroseas has a 12 month low of $22.50 and a 12 month high of $50.92.

Euroseas (NASDAQ:ESEA - Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The shipping company reported $4.92 EPS for the quarter, topping analysts' consensus estimates of $2.49 by $2.43. Euroseas had a return on equity of 38.07% and a net margin of 57.36%. The company had revenue of $60.29 million for the quarter, compared to analysts' expectations of $49.33 million. As a group, equities research analysts expect that Euroseas will post 14.99 earnings per share for the current fiscal year.

Euroseas Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Monday, September 9th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 5.66%. The ex-dividend date of this dividend was Monday, September 9th. Euroseas's payout ratio is presently 15.76%.

Institutional Trading of Euroseas

A number of institutional investors and hedge funds have recently made changes to their positions in ESEA. Renaissance Technologies LLC raised its position in Euroseas by 3.0% during the second quarter. Renaissance Technologies LLC now owns 97,478 shares of the shipping company's stock valued at $3,403,000 after purchasing an additional 2,877 shares in the last quarter. Acadian Asset Management LLC lifted its position in shares of Euroseas by 2.2% during the 2nd quarter. Acadian Asset Management LLC now owns 73,365 shares of the shipping company's stock worth $2,559,000 after buying an additional 1,602 shares during the last quarter. Quadrature Capital Ltd boosted its stake in Euroseas by 51.4% in the fourth quarter. Quadrature Capital Ltd now owns 46,007 shares of the shipping company's stock valued at $1,434,000 after buying an additional 15,618 shares in the last quarter. CHURCHILL MANAGEMENT Corp bought a new position in Euroseas in the first quarter valued at about $1,300,000. Finally, Inspire Investing LLC acquired a new position in Euroseas during the third quarter worth about $913,000. Institutional investors own 6.27% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ESEA shares. Noble Financial upgraded Euroseas to a "strong-buy" rating in a research report on Wednesday, July 10th. StockNews.com raised shares of Euroseas from a "hold" rating to a "buy" rating in a research report on Saturday. Finally, Alliance Global Partners started coverage on shares of Euroseas in a research note on Monday, September 9th. They issued a "buy" rating and a $60.00 price objective for the company.

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.