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

Shares of Euroseas Ltd. (NASDAQ:ESEA) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $63.85 and traded as high as $71.11. Euroseas shares last traded at $68.98, with a volume of 66,384 shares changing hands.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ESEA. Wall Street Zen upgraded Euroseas from a “hold” rating to a “buy” rating in a report on Monday, June 1st. Zacks Research raised shares of Euroseas from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 30th. Alliance Global Partners reiterated a “buy” rating on shares of Euroseas in a research note on Monday, April 20th. Finally, Weiss Ratings downgraded shares of Euroseas from a “buy (b)” rating to a “hold (c)” rating in a report on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy”.

Euroseas Trading Down 0.3%

The stock has a market capitalization of $487.00 million, a PE ratio of 3.63 and a beta of 0.45. The firm has a 50-day moving average price of $68.45 and a 200-day moving average price of $63.85. The company has a current ratio of 5.46, a quick ratio of 5.38 and a debt-to-equity ratio of 0.39.

Euroseas (NASDAQ:ESEA) last released its earnings results on Thursday, May 21st. The shipping company reported $4.70 EPS for the quarter, topping analysts’ consensus estimates of $4.26 by $0.44. The company had revenue of $55.84 million for the quarter, compared to analysts’ expectations of $56.61 million. Euroseas had a return on equity of 27.55% and a net margin of 58.31%. As a group, equities analysts forecast that Euroseas Ltd. will post 18.1 EPS for the current fiscal year.

Euroseas Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 16th. Investors of record on Tuesday, June 9th were issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 4.6%. This is a boost from Euroseas’s previous quarterly dividend of $0.75. The ex-dividend date was Tuesday, June 9th. Euroseas’s dividend payout ratio is 16.86%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Russell Investments Group Ltd. purchased a new stake in shares of Euroseas during the 4th quarter worth approximately $34,000. Bank of America Corp DE lifted its stake in Euroseas by 387.8% in the second quarter. Bank of America Corp DE now owns 1,117 shares of the shipping company’s stock valued at $50,000 after purchasing an additional 888 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in Euroseas by 540.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,280 shares of the shipping company’s stock valued at $76,000 after purchasing an additional 1,080 shares during the last quarter. Quarry LP bought a new position in Euroseas during the third quarter valued at $89,000. Finally, Magnetar Financial LLC bought a new position in Euroseas during the fourth quarter valued at $204,000. 6.27% of the stock is 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.