Euroseas Ltd. (NASDAQ:ESEA) Stock Short Interest Report for September

Euroseas Ltd. (NASDAQ:ESEA) was the recipient of a large drop in short interest in the month of September. As of September 30th, there was short interest totaling 31,339 shares, a drop of 43.6% from the September 15th total of 55,584 shares. Currently, 1.0% of the shares of the company are short sold. Based on an average daily trading volume, of 48,837 shares, the short-interest ratio is presently 0.6 days.

Insider Buying and Selling

In related news, insider Symeon Pariaros sold 950 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $79.00, for a total transaction of $75,050.00. Following the transaction, the insider directly owned 1,900 shares of the company’s stock, valued at approximately $150,100. This trade represents a 33.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 55.90% of the company’s stock.

Institutional Trading of Euroseas

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. WINTON GROUP Ltd raised its stake in Euroseas by 33.1% during the 2nd quarter. WINTON GROUP Ltd now owns 8,036 shares of the shipping company’s stock worth $533,000 after buying an additional 1,998 shares during the period. Navellier & Associates Inc. grew its stake in Euroseas by 94.8% in the second quarter. Navellier & Associates Inc. now owns 15,562 shares of the shipping company’s stock valued at $1,033,000 after acquiring an additional 7,575 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in Euroseas in the second quarter valued at approximately $423,000. Redhawk Wealth Advisors Inc. increased its holdings in shares of Euroseas by 36.2% during the second quarter. Redhawk Wealth Advisors Inc. now owns 4,149 shares of the shipping company’s stock valued at $275,000 after acquiring an additional 1,102 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of Euroseas by 4.2% during the first quarter. Renaissance Technologies LLC now owns 100,765 shares of the shipping company’s stock valued at $6,736,000 after acquiring an additional 4,087 shares in the last quarter. 6.27% of the stock is owned by institutional investors.

Analyst Ratings Changes

ESEA has been the subject of several analyst reports. Zacks Research cut Euroseas from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 29th. Freedom Broker initiated coverage on shares of Euroseas in a research note on Tuesday, September 29th. They issued a “buy” rating and a $93.00 price objective for the company. Finally, Weiss Ratings lowered Euroseas from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, October 2nd. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $93.00.

Euroseas Trading Down 1.9%

Shares of Euroseas stock traded down $1.28 on Friday, hitting $66.17. 33,584 shares of the company’s stock traded hands, compared to its average volume of 35,904. The company has a market capitalization of $467.16 million, a price-to-earnings ratio of 3.41 and a beta of 0.62. Euroseas has a one year low of $51.00 and a one year high of $79.67. The company has a fifty day moving average of $73.63 and a two-hundred day moving average of $71.15. The company has a debt-to-equity ratio of 0.36, a current ratio of 5.46 and a quick ratio of 5.38.

Euroseas (NASDAQ:ESEA) last announced its quarterly earnings data on Thursday, August 13th. The shipping company reported $4.70 EPS for the quarter, topping the consensus estimate of $4.09 by $0.61. The company had revenue of $56.50 million during the quarter, compared to the consensus estimate of $55.98 million. Euroseas had a net margin of 59.98% and a return on equity of 26.58%. As a group, sell-side analysts expect that Euroseas will post 18.03 earnings per share for the current year.

Euroseas Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 16th. Stockholders of record on Wednesday, September 9th were given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date of this dividend was Wednesday, September 9th. Euroseas’s dividend payout ratio is 16.47%.

Euroseas Company Profile

Euroseas Ltd. (NASDAQ: ESEA) is a shipping company that owns and operates containerships engaged in the transportation of containerized cargo. Its vessels generally serve the feeder and intermediate segments of the container shipping market, connecting smaller or regional ports with major international trade routes.

The company’s fleet is employed primarily through time charters, voyage charters and pool arrangements, depending on market conditions and vessel characteristics. Euroseas serves customers involved in global commerce across a range of international and regional trading areas, with operations managed from Athens, Greece, and a corporate domicile in the Marshall Islands.

Euroseas was established in 2005 by the Pittas family, which has a long history in commercial shipping.