StockNews.com Begins Coverage on Euroseas (NASDAQ:ESEA)

Equities research analysts at StockNews.com initiated coverage on shares of Euroseas (NASDAQ:ESEA) in a report released on Friday. The brokerage set a “buy” rating on the shipping company’s stock.

Euroseas Stock Down 2.2 %

Shares of NASDAQ:ESEA opened at $32.50 on Friday. The stock has a market cap of $227.70 million, a P/E ratio of 2.00 and a beta of 0.72. The firm has a fifty day moving average price of $33.47 and a 200 day moving average price of $38.69. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.65 and a quick ratio of 1.59. Euroseas has a 1-year low of $30.21 and a 1-year high of $50.92.

Hedge Funds Weigh In On Euroseas

Large investors have recently bought and sold shares of the company. Barclays PLC raised its position in Euroseas by 67.5% during the 3rd quarter. Barclays PLC now owns 623 shares of the shipping company’s stock worth $30,000 after buying an additional 251 shares during the last quarter. Bank of America Corp DE raised its position in Euroseas by 1,611.0% during the 4th quarter. Bank of America Corp DE now owns 1,865 shares of the shipping company’s stock worth $68,000 after buying an additional 1,756 shares during the last quarter. Retireful LLC purchased a new position in Euroseas during the 4th quarter worth $222,000. Geode Capital Management LLC purchased a new position in Euroseas during the 3rd quarter worth $248,000. Finally, Mariner LLC purchased a new position in Euroseas during the 4th quarter worth $306,000. Hedge funds and other institutional investors own 6.27% of the company’s stock.

About Euroseas

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 March 31, 2024, it had a fleet of 20 containerships with a cargo carrying capacity of approximately 777,749 dwt.