Euroseas (NASDAQ:ESEA) Shares Cross Above 200 Day Moving Average of $32.81

Shares of Euroseas Ltd. (NASDAQ:ESEA) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $32.81 and traded as high as $34.80. Euroseas shares last traded at $33.91, with a volume of 17,146 shares.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Euroseas from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 20th.

Euroseas Stock Performance

The firm has a market cap of $237.71 million, a PE ratio of 2.06 and a beta of 0.86. The company has a current ratio of 1.29, a quick ratio of 1.24 and a debt-to-equity ratio of 0.37. The firm’s 50 day simple moving average is $35.62 and its 200 day simple moving average is $32.81.

Euroseas (NASDAQ:ESEA) last announced its quarterly earnings results on Wednesday, February 21st. The shipping company reported $3.61 EPS for the quarter, missing the consensus estimate of $3.85 by ($0.24). The company had revenue of $50.69 million during the quarter, compared to analysts’ expectations of $50.97 million. Euroseas had a return on equity of 45.15% and a net margin of 60.50%. On average, research analysts forecast that Euroseas Ltd. will post 11.64 EPS for the current fiscal year.

Euroseas Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 8th were issued a $0.60 dividend. The ex-dividend date was Thursday, March 7th. This is an increase from Euroseas’s previous quarterly dividend of $0.50. This represents a $2.40 dividend on an annualized basis and a dividend yield of 7.08%. Euroseas’s payout ratio is 14.58%.

Institutional Trading of Euroseas

Large investors have recently made changes to their positions in the business. Tucker Asset Management LLC bought a new stake in shares of Euroseas in the 4th quarter worth about $86,000. Jump Financial LLC bought a new position in Euroseas during the 4th quarter valued at about $262,000. Virtu Financial LLC bought a new position in Euroseas during the 4th quarter valued at about $350,000. Janney Montgomery Scott LLC bought a new position in Euroseas during the 4th quarter valued at about $447,000. Finally, Acadian Asset Management LLC bought a new position in Euroseas during the 3rd quarter valued at about $551,000. 6.27% of the stock is currently owned by institutional investors.

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 May 02, 2023, it had a fleet of 18 vessels, including 11 feeder and 7 intermediate containerships with a cargo capacity of approximately 56, 061 twenty-foot equivalent unit.