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

Euroseas Ltd. (NASDAQ:ESEA)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $58.95 and traded as high as $64.00. Euroseas shares last traded at $60.81, with a volume of 84,487 shares changing hands.

Analyst Ratings Changes

A number of brokerages recently weighed in on ESEA. Wall Street Zen upgraded shares of Euroseas from a “hold” rating to a “buy” rating in a report on Saturday. Weiss Ratings reiterated a “buy (b-)” rating on shares of Euroseas in a research note on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating and one has given 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 target price of $62.00.

Euroseas Trading Down 2.9%

The company has a debt-to-equity ratio of 0.43, a current ratio of 4.89 and a quick ratio of 4.82. The business has a 50-day simple moving average of $60.84 and a two-hundred day simple moving average of $58.95. The stock has a market cap of $426.28 million, a price-to-earnings ratio of 3.10 and a beta of 0.80.

Euroseas (NASDAQ:ESEA) last released its quarterly earnings data on Thursday, February 26th. The shipping company reported $4.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.47 by $0.01. The company had revenue of $57.39 million during the quarter, compared to analysts’ expectations of $57.83 million. Euroseas had a return on equity of 27.82% and a net margin of 60.11%. Equities analysts forecast that Euroseas Ltd. will post 15.15 EPS for the current fiscal year.

Euroseas Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 17th. Shareholders of record on Tuesday, March 10th were issued a dividend of $0.75 per share. The ex-dividend date of this dividend was Tuesday, March 10th. This represents a $3.00 annualized dividend and a yield of 4.9%. This is a positive change from Euroseas’s previous quarterly dividend of $0.70. Euroseas’s payout ratio is 15.29%.

Hedge Funds Weigh In On Euroseas

Several institutional investors and hedge funds have recently modified their holdings of the stock. Russell Investments Group Ltd. bought a new position in shares of Euroseas in the fourth quarter valued at about $34,000. Bank of America Corp DE boosted its holdings 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 buying an additional 888 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Euroseas by 540.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,280 shares of the shipping company’s stock worth $76,000 after buying an additional 1,080 shares during the period. Quarry LP acquired a new position in Euroseas in the 3rd quarter valued at about $89,000. Finally, Blue Bell Private Wealth Management LLC acquired a new position in Euroseas in the 3rd quarter valued at about $205,000. 6.27% of the stock is currently owned by institutional investors and hedge funds.

About Euroseas

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.