Euroseas Ltd. (NASDAQ:ESEA) Short Interest Down 30.2% in March

Euroseas Ltd. (NASDAQ:ESEA) was the target of a significant decrease in short interest in the month of March. As of March 13th, there was short interest totaling 35,519 shares, a decrease of 30.2% from the February 26th total of 50,860 shares. Currently, 1.1% of the shares of the company are sold short. Based on an average daily volume of 86,107 shares, the short-interest ratio is currently 0.4 days.

Institutional Investors Weigh In On Euroseas

A number of hedge funds and other institutional investors have recently made changes to their positions in ESEA. State of Tennessee Department of Treasury purchased a new position in shares of Euroseas during the 4th quarter valued at approximately $404,000. Millennium Management LLC boosted its holdings in Euroseas by 171.7% during the fourth quarter. Millennium Management LLC now owns 53,386 shares of the shipping company’s stock worth $2,915,000 after buying an additional 33,738 shares in the last quarter. Engineers Gate Manager LP acquired a new stake in Euroseas during the fourth quarter valued at $311,000. Lazard Asset Management LLC increased its holdings in Euroseas by 3.7% in the fourth quarter. Lazard Asset Management LLC now owns 35,031 shares of the shipping company’s stock valued at $1,913,000 after buying an additional 1,262 shares in the last quarter. Finally, Jump Financial LLC increased its holdings in Euroseas by 39.3% in the fourth quarter. Jump Financial LLC now owns 10,692 shares of the shipping company’s stock valued at $584,000 after buying an additional 3,019 shares in the last quarter. Institutional investors and hedge funds own 6.27% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on ESEA shares. Wall Street Zen raised Euroseas from a “hold” rating to a “buy” rating in a report on Saturday. Weiss Ratings reissued a “buy (b-)” rating on shares of Euroseas in a research report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $62.00.

Euroseas Stock Performance

NASDAQ:ESEA traded down $1.80 during mid-day trading on Friday, hitting $60.81. The company’s stock had a trading volume of 84,487 shares, compared to its average volume of 88,339. The business’s fifty day moving average is $60.84 and its two-hundred day moving average is $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. The company has a debt-to-equity ratio of 0.43, a current ratio of 4.89 and a quick ratio of 4.82. Euroseas has a 1 year low of $26.30 and a 1 year high of $72.86.

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

Euroseas Increases Dividend

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

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.