Euroseas (NASDAQ:ESEA) Stock Rating Lowered by StockNews.com

Euroseas (NASDAQ:ESEA) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Friday.

Several other analysts also recently commented on the company. Noble Financial raised Euroseas to a “strong-buy” rating in a research note on Wednesday, July 10th. Alliance Global Partners began coverage on shares of Euroseas in a research note on Monday, September 9th. They issued a “buy” rating and a $60.00 price objective for the company.

Euroseas Price Performance

ESEA stock traded down $5.80 on Friday, hitting $44.56. 184,170 shares of the company’s stock traded hands, compared to its average volume of 40,681. The company has a current ratio of 1.46, a quick ratio of 1.41 and a debt-to-equity ratio of 0.52. The stock has a market cap of $312.19 million, a price-to-earnings ratio of 2.93 and a beta of 0.84. Euroseas has a 1-year low of $22.50 and a 1-year high of $50.92. The stock has a fifty day moving average of $43.85 and a 200-day moving average of $39.20.

Euroseas (NASDAQ:ESEA) last announced its quarterly earnings results on Tuesday, August 6th. The shipping company reported $4.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.49 by $2.43. The business had revenue of $60.29 million during the quarter, compared to analyst estimates of $49.33 million. Euroseas had a return on equity of 38.07% and a net margin of 57.36%. On average, analysts forecast that Euroseas will post 13.24 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Squarepoint Ops LLC boosted its position in shares of Euroseas by 42.5% during the second quarter. Squarepoint Ops LLC now owns 12,135 shares of the shipping company’s stock valued at $424,000 after buying an additional 3,617 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Euroseas by 3.0% in the 2nd quarter. Renaissance Technologies LLC now owns 97,478 shares of the shipping company’s stock valued at $3,403,000 after acquiring an additional 2,877 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Euroseas by 2.2% in the 2nd quarter. Acadian Asset Management LLC now owns 73,365 shares of the shipping company’s stock worth $2,559,000 after purchasing an additional 1,602 shares during the period. Redhawk Wealth Advisors Inc. bought a new position in Euroseas during the second quarter valued at $248,000. Finally, Beacon Capital Management LLC bought a new stake in Euroseas in the first quarter worth about $36,000. 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.