Euroseas (NASDAQ:ESEA) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

Euroseas Ltd. (NASDAQ:ESEA)’s share price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $40.68 and traded as high as $40.89. Euroseas shares last traded at $39.92, with a volume of 57,891 shares traded.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ESEA. Alliance Global Partners assumed coverage on shares of Euroseas in a report on Monday, September 9th. They set a “buy” rating and a $60.00 target price for the company. StockNews.com cut Euroseas from a “buy” rating to a “hold” rating in a report on Tuesday.

Euroseas Stock Performance

The company’s 50-day moving average price is $43.74 and its 200 day moving average price is $40.68. The stock has a market capitalization of $279.84 million, a PE ratio of 2.36 and a beta of 0.88. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.41 and a current ratio of 1.46.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Beacon Capital Management LLC purchased a new position in shares of Euroseas during the first quarter valued at approximately $36,000. Redhawk Wealth Advisors Inc. bought a new position in shares of Euroseas in the second quarter worth approximately $248,000. Lazard Asset Management LLC grew its holdings in shares of Euroseas by 3,282.3% during the first quarter. Lazard Asset Management LLC now owns 8,219 shares of the shipping company’s stock valued at $294,000 after buying an additional 7,976 shares during the last quarter. Sheaff Brock Investment Advisors LLC raised its holdings in Euroseas by 25.0% in the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 7,810 shares of the shipping company’s stock worth $382,000 after acquiring an additional 1,560 shares during the last quarter. Finally, Squarepoint Ops LLC raised its holdings in Euroseas by 42.5% in the 2nd quarter. Squarepoint Ops LLC now owns 12,135 shares of the shipping company’s stock worth $424,000 after acquiring an additional 3,617 shares during the last quarter. Hedge funds and other institutional investors own 6.27% of the company’s stock.

Euroseas Company Profile

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.