Euroseas (NASDAQ:ESEA) Shares Pass Above 200-Day Moving Average – What’s Next?

Shares of Euroseas Ltd. (NASDAQ:ESEA) crossed 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.

Wall Street Analysts Forecast Growth

Several research firms have commented on ESEA. Weiss Ratings reissued a “buy (b-)” rating on shares of Euroseas in a research note on Monday, December 29th. Zacks Research lowered shares of Euroseas from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 14th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Euroseas has a consensus rating of “Moderate Buy” and an average price target of $62.00.

Euroseas Trading Down 1.4%

The company has a debt-to-equity ratio of 0.47, a quick ratio of 3.53 and a current ratio of 3.59. The firm has a market capitalization of $400.83 million, a PE ratio of 3.30 and a beta of 0.74. The stock’s 50-day simple moving average is $56.33 and its 200-day simple moving average is $57.24.

Euroseas Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 16th. Stockholders of record on Tuesday, December 9th were paid a $0.70 dividend. 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%.

Hedge Funds Weigh In On Euroseas

Hedge funds and other institutional investors have recently modified their holdings of the stock. Allworth Financial LP purchased a new stake in Euroseas during the second quarter valued at $45,000. Bank of America Corp DE grew its stake in shares of Euroseas by 387.8% in 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 in the last quarter. Quarry LP bought a new stake in shares of Euroseas in the 3rd quarter worth about $89,000. Blue Bell Private Wealth Management LLC purchased a new stake in shares of Euroseas during the 3rd quarter valued at about $205,000. Finally, Inspire Advisors LLC bought a new position in shares of Euroseas in the 3rd quarter valued at about $219,000. Institutional investors own 6.27% of the company’s stock.

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.