Euroseas (NASDAQ:ESEA) Shares Cross Above 200 Day Moving Average – Should You Sell?

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 $61.32 and traded as high as $71.08. Euroseas shares last traded at $69.64, with a volume of 67,520 shares.

Analysts Set New Price Targets

A number of analysts recently weighed in on ESEA shares. Wall Street Zen raised shares of Euroseas from a “hold” rating to a “buy” rating in a report on Saturday. Alliance Global Partners reiterated a “buy” rating on shares of Euroseas in a research report on Monday, April 20th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Euroseas has a consensus rating of “Moderate Buy” and a consensus price target of $62.00.

Euroseas Trading Down 0.5%

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 $491.38 million, a price-to-earnings ratio of 3.55 and a beta of 0.54. The business’s 50-day simple moving average is $68.27 and its 200-day simple moving average is $61.32.

Euroseas (NASDAQ:ESEA) last issued its quarterly earnings results on Thursday, February 26th. The shipping company reported $4.48 EPS for the quarter, topping the consensus estimate of $4.47 by $0.01. Euroseas had a net margin of 60.11% and a return on equity of 27.82%. The company had revenue of $57.39 million during the quarter, compared to analysts’ expectations of $57.83 million. On average, research analysts expect that Euroseas Ltd. will post 17.34 earnings per share for the current fiscal year.

Euroseas Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 17th. Shareholders of record on Tuesday, March 10th were issued a dividend of $0.75 per share. The ex-dividend date of this dividend was Tuesday, March 10th. This represents a $3.00 dividend on an annualized basis and a yield of 4.3%. This is a boost from Euroseas’s previous quarterly dividend of $0.70. Euroseas’s dividend payout ratio (DPR) is presently 15.29%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Renaissance Technologies LLC grew its stake 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 worth $6,736,000 after purchasing an additional 4,087 shares during the period. State of Wyoming acquired a new position in Euroseas in the first quarter valued at about $323,000. Inspire Investing LLC bought a new position in Euroseas during the first quarter worth about $1,591,000. State of Tennessee Department of Treasury bought a new position in Euroseas during the fourth quarter worth about $404,000. Finally, Millennium Management LLC grew its position in shares of Euroseas by 171.7% during the 4th 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 during the period. Institutional investors and hedge funds 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.