Euroseas (NASDAQ:ESEA) Stock Crosses Above 200-Day Moving Average – Here’s What Happened

Euroseas Ltd. (NASDAQ:ESEA)’s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $57.18 and traded as high as $58.02. Euroseas shares last traded at $57.18, with a volume of 31,205 shares traded.

Analysts Set New Price Targets

ESEA has been the topic of several recent analyst reports. Zacks Research lowered Euroseas from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 14th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Euroseas in a research report on Monday, December 29th. Two equities research 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.com, Euroseas has an average rating of “Moderate Buy” and a consensus price target of $62.00.

Euroseas Stock Down 1.4%

The firm’s fifty day simple moving average is $56.33 and its 200 day simple moving average is $57.18. The company has a current ratio of 3.59, a quick ratio of 3.53 and a debt-to-equity ratio of 0.47. The company has a market cap of $400.83 million, a price-to-earnings ratio of 3.30 and a beta of 0.74.

Euroseas Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 16th. Stockholders of record on Tuesday, December 9th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Tuesday, December 9th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.9%. Euroseas’s dividend payout ratio is 16.17%.

Institutional Investors Weigh In On Euroseas

A number of institutional investors and hedge funds have recently modified their holdings of the company. Allworth Financial LP purchased a new stake in shares of Euroseas in the second quarter valued at about $45,000. Bank of America Corp DE raised its position in shares of Euroseas by 387.8% during the 2nd quarter. Bank of America Corp DE now owns 1,117 shares of the shipping company’s stock worth $50,000 after purchasing an additional 888 shares during the last quarter. Quarry LP purchased a new stake in Euroseas in the 3rd quarter valued at approximately $89,000. Blue Bell Private Wealth Management LLC acquired a new stake in Euroseas during the 3rd quarter valued at $205,000. Finally, Inspire Advisors LLC purchased a new position in Euroseas during the third quarter worth $219,000. Institutional investors and hedge funds own 6.27% of the company’s stock.

Euroseas Company Profile

Euroseas Ltd. (NASDAQ: ESEA) is an international shipping company specializing in seaborne transportation of containerized and drybulk cargoes. Incorporated in Bermuda with its principal operations and management office based in Athens, Greece, the company owns and charters a diversified fleet of containerships, drybulk carriers and multipurpose vessels. Euroseas provides tailored shipping solutions on time-charter and voyage-charter agreements, serving manufacturers, commodity traders and logistics providers across major trade routes.

Euroseas’s fleet comprises both owned and chartered tonnage, enabling the company to adjust capacity to market conditions and customer requirements.