Euroseas Ltd. (NASDAQ:ESEA) Short Interest Up 22.9% in January

Euroseas Ltd. (NASDAQ:ESEA - Get Free Report) saw a large increase in short interest in January. As of January 15th, there was short interest totalling 16,100 shares, an increase of 22.9% from the December 31st total of 13,100 shares. Based on an average trading volume of 44,900 shares, the days-to-cover ratio is currently 0.4 days. Approximately 0.6% of the shares of the company are short sold.

Euroseas Stock Performance

Shares of NASDAQ ESEA traded down $0.24 during mid-day trading on Monday, hitting $30.77. The company had a trading volume of 30,441 shares, compared to its average volume of 40,902. The stock has a market cap of $215.70 million, a price-to-earnings ratio of 1.90 and a beta of 0.85. Euroseas has a 12 month low of $30.21 and a 12 month high of $50.92. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.65 and a quick ratio of 1.59. The firm's 50 day simple moving average is $35.32 and its two-hundred day simple moving average is $40.14.

Euroseas Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 17th. Investors of record on Monday, December 9th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 7.80%. The ex-dividend date was Monday, December 9th. Euroseas's dividend payout ratio (DPR) is 14.80%.

Institutional Trading of Euroseas

Several hedge funds have recently made changes to their positions in ESEA. Barclays PLC lifted 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 worth $30,000 after purchasing an additional 251 shares during the last quarter. Retireful LLC bought a new stake in shares of Euroseas in the 4th quarter worth approximately $222,000. Geode Capital Management LLC bought a new stake in shares of Euroseas in the 3rd quarter worth approximately $248,000. Exchange Traded Concepts LLC bought a new stake in Euroseas during the 4th quarter valued at $306,000. Finally, Redhawk Wealth Advisors Inc. raised its stake in Euroseas by 6.8% during the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 7,593 shares of the shipping company's stock valued at $371,000 after acquiring an additional 485 shares in the last quarter. Institutional investors own 6.27% of the company's stock.

Analysts Set New Price Targets

Separately, StockNews.com lowered Euroseas from a "buy" rating to a "hold" rating in a research report on Tuesday, November 12th.

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.