Euroseas (NASDAQ:ESEA) Shares Pass Above 200 Day Moving Average – Time to Sell?

Euroseas Ltd. (NASDAQ:ESEA)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $59.03 and traded as high as $68.25. Euroseas shares last traded at $67.69, with a volume of 90,399 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on ESEA shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of Euroseas in a report on Monday, December 29th. Wall Street Zen upgraded Euroseas from a “hold” rating to a “buy” rating in a report on Saturday, March 28th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $62.00.

Euroseas Stock Performance

The company has a quick ratio of 4.82, a current ratio of 4.89 and a debt-to-equity ratio of 0.43. The stock has a 50 day simple moving average of $62.82 and a two-hundred day simple moving average of $59.12. The stock has a market capitalization of $485.30 million, a P/E ratio of 3.53 and a beta of 0.73.

Euroseas (NASDAQ:ESEA) last posted its quarterly earnings results on Thursday, February 26th. The shipping company reported $4.48 earnings per share for the quarter, beating analysts’ consensus estimates of $4.47 by $0.01. The firm had revenue of $57.39 million during the quarter, compared to the consensus estimate of $57.83 million. Euroseas had a return on equity of 27.82% and a net margin of 60.11%. On average, equities analysts forecast that Euroseas Ltd. will post 15.15 EPS for the current fiscal year.

Euroseas Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 17th. Shareholders of record on Tuesday, March 10th were paid a $0.75 dividend. This is a positive change from Euroseas’s previous quarterly dividend of $0.70. This represents a $3.00 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date was Tuesday, March 10th. Euroseas’s dividend payout ratio is 15.29%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ESEA. Bank of America Corp DE grew its stake in Euroseas by 1,611.0% in the fourth quarter. Bank of America Corp DE now owns 1,865 shares of the shipping company’s stock valued at $68,000 after purchasing an additional 1,756 shares in the last quarter. Geode Capital Management LLC acquired a new stake in shares of Euroseas in the second quarter valued at approximately $226,000. Jump Financial LLC acquired a new stake in shares of Euroseas in the second quarter valued at approximately $260,000. Raymond James Financial Inc. acquired a new stake in shares of Euroseas in the second quarter valued at approximately $870,000. Finally, Jane Street Group LLC acquired a new stake in shares of Euroseas in the second quarter valued at approximately $259,000. 6.27% of the stock is currently owned by institutional investors.

About Euroseas

Euroseas Ltd. (NASDAQ: ESEA) is an international shipping company specializing in seaborne transportation of containerized and drybulk cargoes. Incorporated in Bermuda with its principal operations and management office based in Athens, Greece, the company owns and charters a diversified fleet of containerships, drybulk carriers and multipurpose vessels. Euroseas provides tailored shipping solutions on time-charter and voyage-charter agreements, serving manufacturers, commodity traders and logistics providers across major trade routes.

Euroseas’s fleet comprises both owned and chartered tonnage, enabling the company to adjust capacity to market conditions and customer requirements.