Euroseas Ltd. (NASDAQ:ESEA) Stock Position Raised by Millennium Management LLC

Millennium Management LLC increased its position in Euroseas Ltd. (NASDAQ:ESEA) by 661.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 40,931 shares of the shipping company’s stock after purchasing an additional 35,555 shares during the period. Millennium Management LLC owned about 0.58% of Euroseas worth $1,482,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC raised its position in Euroseas by 4.6% during the fourth quarter. Cubist Systematic Strategies LLC now owns 10,813 shares of the shipping company’s stock valued at $391,000 after buying an additional 471 shares during the period. Bank of America Corp DE grew its stake in Euroseas by 1,611.0% during the 4th quarter. Bank of America Corp DE now owns 1,865 shares of the shipping company’s stock valued at $68,000 after acquiring an additional 1,756 shares in the last quarter. Sheaff Brock Investment Advisors LLC grew its stake in Euroseas by 46.1% during the 4th quarter. Sheaff Brock Investment Advisors LLC now owns 11,410 shares of the shipping company’s stock valued at $413,000 after acquiring an additional 3,600 shares in the last quarter. Lazard Asset Management LLC increased its holdings in shares of Euroseas by 30.9% in the 4th quarter. Lazard Asset Management LLC now owns 30,165 shares of the shipping company’s stock valued at $1,091,000 after purchasing an additional 7,127 shares during the period. Finally, Mariner LLC purchased a new stake in shares of Euroseas in the fourth quarter worth approximately $306,000. 6.27% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Wall Street Zen started coverage on shares of Euroseas in a report on Tuesday, May 20th. They set a “hold” rating for the company.

Euroseas Stock Performance

Shares of ESEA opened at $38.88 on Wednesday. Euroseas Ltd. has a 12 month low of $26.30 and a 12 month high of $50.92. The company’s fifty day moving average is $33.18 and its 200-day moving average is $34.12. 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 firm has a market cap of $272.55 million, a price-to-earnings ratio of 2.40 and a beta of 0.75.

Euroseas 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.