Euroseas (NASDAQ:ESEA) Stock Price Passes Above 200-Day Moving Average – Here’s Why

Euroseas Ltd. (NASDAQ:ESEA)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $34.26 and traded as high as $45.49. Euroseas shares last traded at $45.03, with a volume of 47,421 shares changing hands.

Wall Street Analyst Weigh In

Separately, Wall Street Zen initiated coverage on Euroseas in a research report on Tuesday, May 20th. They issued a “hold” rating for the company.

Euroseas Stock Performance

The business’s fifty day moving average price is $35.76 and its 200 day moving average price is $34.26. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.48 and a quick ratio of 1.43.

Institutional Investors Weigh In On Euroseas

Hedge funds have recently modified their holdings of the stock. Bank of America Corp DE raised its position 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 worth $68,000 after buying an additional 1,756 shares during the last quarter. Mariner LLC purchased a new stake in shares of Euroseas in the fourth quarter valued at about $306,000. Cubist Systematic Strategies LLC increased its stake in shares of Euroseas by 4.6% during the fourth quarter. Cubist Systematic Strategies LLC now owns 10,813 shares of the shipping company’s stock worth $391,000 after acquiring an additional 471 shares during the period. Boston Partners raised its holdings in Euroseas by 37.5% during the first quarter. Boston Partners now owns 17,045 shares of the shipping company’s stock worth $522,000 after purchasing an additional 4,647 shares in the last quarter. Finally, Novem Group purchased a new position in Euroseas during the fourth quarter worth about $847,000. 6.27% of the stock is owned by institutional investors and hedge funds.

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.