Euroseas (NASDAQ:ESEA) Upgraded at Wall Street Zen

Euroseas (NASDAQ:ESEA) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Separately, Weiss Ratings restated a “buy (b-)” rating on shares of Euroseas in a research note on Monday, December 29th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Euroseas currently has a consensus rating of “Moderate Buy” and a consensus price target of $62.00.

Euroseas Stock Performance

Euroseas stock opened at $60.81 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 4.82 and a current ratio of 4.89. The company has a market capitalization of $426.28 million, a PE ratio of 3.10 and a beta of 0.80. The company has a 50 day moving average price of $60.84 and a 200-day moving average price of $58.95. Euroseas has a fifty-two week low of $26.30 and a fifty-two week high of $72.86.

Euroseas (NASDAQ:ESEA) last announced its quarterly earnings data on Thursday, February 26th. The shipping company reported $4.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.47 by $0.01. The company had revenue of $57.39 million for 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%. As a group, equities analysts forecast that Euroseas will post 15.15 earnings per share for the current year.

Institutional Trading of Euroseas

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Millennium Management LLC increased its holdings in shares of Euroseas by 171.7% in the 4th quarter. Millennium Management LLC now owns 53,386 shares of the shipping company’s stock valued at $2,915,000 after acquiring an additional 33,738 shares during the period. Raymond James Financial Inc. bought a new stake in Euroseas during the second quarter valued at about $870,000. Mackenzie Financial Corp purchased a new position in Euroseas in the third quarter valued at about $1,136,000. Two Sigma Investments LP bought a new position in Euroseas in the third quarter worth about $989,000. Finally, Citadel Advisors LLC raised its holdings in Euroseas by 144.9% in the third quarter. Citadel Advisors LLC now owns 26,576 shares of the shipping company’s stock worth $1,584,000 after purchasing an additional 15,724 shares in the last quarter. Institutional investors 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.