Euroseas (NASDAQ:ESEA) Now Covered by StockNews.com

StockNews.com assumed coverage on shares of Euroseas (NASDAQ:ESEA) in a research note published on Friday morning. The firm issued a buy rating on the shipping company’s stock.

Euroseas Price Performance

Shares of NASDAQ:ESEA opened at $32.58 on Friday. The stock has a market cap of $228.26 million, a PE ratio of 2.01 and a beta of 0.72. Euroseas has a 1-year low of $30.21 and a 1-year high of $50.92. The company has a current ratio of 1.65, a quick ratio of 1.59 and a debt-to-equity ratio of 0.53. The stock’s fifty day simple moving average is $33.37 and its two-hundred day simple moving average is $38.65.

Euroseas Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 11th will be paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 7.98%. This is a boost from Euroseas’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Tuesday, March 11th. Euroseas’s payout ratio is presently 16.10%.

Institutional Investors Weigh In On Euroseas

A number of hedge funds have recently made changes to their positions in ESEA. Arrowstreet Capital Limited Partnership raised its stake in shares of Euroseas by 389.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 53,840 shares of the shipping company’s stock worth $1,949,000 after purchasing an additional 42,830 shares during the period. Millennium Management LLC raised its stake in shares of Euroseas by 661.4% during the 4th quarter. Millennium Management LLC now owns 40,931 shares of the shipping company’s stock worth $1,482,000 after purchasing an additional 35,555 shares during the period. Novem Group bought a new stake in shares of Euroseas during the 4th quarter worth $847,000. Marshall Wace LLP raised its stake in shares of Euroseas by 71.5% during the 4th quarter. Marshall Wace LLP now owns 40,703 shares of the shipping company’s stock worth $1,473,000 after purchasing an additional 16,969 shares during the period. Finally, Renaissance Technologies LLC increased its holdings in Euroseas by 17.0% in the 4th quarter. Renaissance Technologies LLC now owns 115,078 shares of the shipping company’s stock worth $4,166,000 after acquiring an additional 16,700 shares during the last quarter. 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.