Euroseas (NASDAQ:ESEA) Share Price Passes Above Two Hundred Day Moving Average of $32.58

Shares of Euroseas Ltd. (NASDAQ:ESEA) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $32.58 and traded as high as $33.58. Euroseas shares last traded at $32.80, with a volume of 24,292 shares.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Euroseas from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 20th.

Euroseas Price Performance

The company has a current ratio of 1.29, a quick ratio of 1.24 and a debt-to-equity ratio of 0.37. The business has a fifty day simple moving average of $35.79 and a 200 day simple moving average of $32.62. The stock has a market capitalization of $232.10 million, a P/E ratio of 2.01 and a beta of 0.86.

Euroseas (NASDAQ:ESEA) last issued its quarterly earnings data on Wednesday, February 21st. The shipping company reported $3.61 EPS for the quarter, missing analysts’ consensus estimates of $3.85 by ($0.24). The company had revenue of $50.69 million for the quarter, compared to the consensus estimate of $50.97 million. Euroseas had a return on equity of 45.15% and a net margin of 60.50%. On average, analysts expect that Euroseas Ltd. will post 11.64 earnings per share for the current year.

Euroseas Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 8th were issued a dividend of $0.60 per share. This is a positive change from Euroseas’s previous quarterly dividend of $0.50. This represents a $2.40 dividend on an annualized basis and a yield of 7.25%. The ex-dividend date of this dividend was Thursday, March 7th. Euroseas’s payout ratio is currently 14.58%.

Hedge Funds Weigh In On Euroseas

Several institutional investors have recently modified their holdings of the business. GSA Capital Partners LLP grew its holdings in shares of Euroseas by 12.0% in the third quarter. GSA Capital Partners LLP now owns 10,519 shares of the shipping company’s stock valued at $280,000 after acquiring an additional 1,131 shares in the last quarter. UBS Group AG bought a new position in shares of Euroseas in the third quarter valued at approximately $51,000. Marshall Wace LLP grew its holdings in shares of Euroseas by 4.0% in the fourth quarter. Marshall Wace LLP now owns 67,934 shares of the shipping company’s stock valued at $1,253,000 after acquiring an additional 2,616 shares in the last quarter. Tucker Asset Management LLC bought a new position in shares of Euroseas in the fourth quarter valued at approximately $86,000. Finally, Walleye Trading LLC bought a new position in shares of Euroseas in the first quarter valued at approximately $221,000. 6.27% of the stock is owned by institutional investors.

Euroseas Company Profile

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 May 02, 2023, it had a fleet of 18 vessels, including 11 feeder and 7 intermediate containerships with a cargo capacity of approximately 56, 061 twenty-foot equivalent unit.