Euroseas (NASDAQ:ESEA) Stock Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

Euroseas Ltd. (NASDAQ:ESEA)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $54.38 and traded as high as $61.39. Euroseas shares last traded at $58.83, with a volume of 38,249 shares.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Zacks Research cut Euroseas from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 14th. Weiss Ratings reissued a “buy (b)” rating on shares of Euroseas in a research report on Monday. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, Euroseas currently has a consensus rating of “Moderate Buy” and a consensus price target of $62.00.

Euroseas Price Performance

The company’s 50-day moving average price is $58.10 and its two-hundred day moving average price is $54.38. The company has a debt-to-equity ratio of 0.47, a current ratio of 3.59 and a quick ratio of 3.53. The company has a market capitalization of $412.40 million, a P/E ratio of 3.40 and a beta of 0.80.

Euroseas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 16th. Stockholders of record on Tuesday, December 9th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date is Tuesday, December 9th. Euroseas’s payout ratio is currently 16.17%.

Hedge Funds Weigh In On Euroseas

A number of large investors have recently made changes to their positions in the company. Allworth Financial LP bought a new stake in Euroseas in the 2nd quarter valued at $45,000. Bank of America Corp DE lifted its holdings in shares of Euroseas by 387.8% during the second quarter. Bank of America Corp DE now owns 1,117 shares of the shipping company’s stock worth $50,000 after buying an additional 888 shares in the last quarter. Quarry LP acquired a new stake in shares of Euroseas during the third quarter worth $89,000. Blue Bell Private Wealth Management LLC bought a new stake in shares of Euroseas in the third quarter valued at about $205,000. Finally, Inspire Advisors LLC acquired a new position in shares of Euroseas in the third quarter valued at about $219,000. Institutional investors own 6.27% of the company’s stock.

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.