Euroseas (NASDAQ:ESEA) Share Price Passes Above 200 Day Moving Average of $37.44

Euroseas Ltd. (NASDAQ:ESEA) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $37.44 and traded as high as $45.98. Euroseas shares last traded at $45.48, with a volume of 32,968 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Noble Financial upgraded shares of Euroseas to a “strong-buy” rating in a report on Wednesday, July 10th.

Euroseas Stock Performance

The company has a quick ratio of 0.91, a current ratio of 0.96 and a debt-to-equity ratio of 0.38. The business has a 50 day moving average price of $39.45 and a 200 day moving average price of $37.48. The stock has a market cap of $323.96 million, a P/E ratio of 3.04 and a beta of 0.81.

Euroseas (NASDAQ:ESEA) last announced its quarterly earnings data on Thursday, May 23rd. The shipping company reported $2.66 EPS for the quarter, missing the consensus estimate of $3.02 by ($0.36). Euroseas had a net margin of 54.50% and a return on equity of 39.84%. The business had revenue of $48.29 million during the quarter, compared to the consensus estimate of $48.10 million. As a group, sell-side analysts expect that Euroseas Ltd. will post 9.7 EPS for the current year.

Euroseas Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Monday, September 9th will be issued a dividend of $0.60 per share. The ex-dividend date is Monday, September 9th. This represents a $2.40 dividend on an annualized basis and a yield of 5.19%. Euroseas’s payout ratio is 15.76%.

Hedge Funds Weigh In On Euroseas

A number of hedge funds have recently added to or reduced their stakes in the stock. Jump Financial LLC bought a new stake in shares of Euroseas during the fourth quarter valued at approximately $262,000. Janney Montgomery Scott LLC purchased a new stake in shares of Euroseas in the 4th quarter worth $447,000. Quadrature Capital Ltd grew its position in shares of Euroseas by 51.4% during the 4th quarter. Quadrature Capital Ltd now owns 46,007 shares of the shipping company’s stock worth $1,434,000 after buying an additional 15,618 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of Euroseas during the fourth quarter valued at $350,000. Finally, Tucker Asset Management LLC purchased a new position in shares of Euroseas during the fourth quarter valued at $86,000. 6.27% of the stock is currently owned by institutional investors.

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.