Euroseas (NASDAQ:ESEA) Coverage Initiated by Analysts at Freedom Broker

Research analysts at Freedom Broker started coverage on shares of Euroseas (NASDAQ:ESEA) in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage set a “buy” rating and a $93.00 price target on the shipping company’s stock. Freedom Broker’s price objective would indicate a potential upside of 32.09% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. Zacks Research lowered shares of Euroseas from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 29th. Weiss Ratings upgraded shares of Euroseas from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, August 14th. Finally, Wall Street Zen upgraded shares of Euroseas from a “hold” rating to a “buy” rating in a research report on Monday, June 1st. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $93.00.

Euroseas Stock Performance

Shares of NASDAQ:ESEA traded up $1.20 during mid-day trading on Tuesday, reaching $70.41. The company had a trading volume of 29,671 shares, compared to its average volume of 59,629. The company has a current ratio of 5.46, a quick ratio of 5.38 and a debt-to-equity ratio of 0.36. The firm has a market cap of $497.06 million, a price-to-earnings ratio of 3.62 and a beta of 0.41. The company’s 50-day moving average price is $75.16 and its 200-day moving average price is $70.69. Euroseas has a one year low of $51.00 and a one year high of $79.67.

Euroseas (NASDAQ:ESEA) last issued its earnings results on Thursday, August 13th. The shipping company reported $4.70 earnings per share for the quarter, topping analysts’ consensus estimates of $4.09 by $0.61. The firm had revenue of $56.50 million during the quarter, compared to analyst estimates of $55.98 million. Euroseas had a net margin of 59.98% and a return on equity of 26.58%. As a group, equities research analysts anticipate that Euroseas will post 18.03 EPS for the current fiscal year.

Insider Transactions at Euroseas

In other Euroseas news, insider Symeon Pariaros sold 950 shares of the company’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $79.00, for a total value of $75,050.00. Following the completion of the transaction, the insider directly owned 1,900 shares in the company, valued at approximately $150,100. This represents a 33.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 55.90% of the company’s stock.

Institutional Trading of Euroseas

Several large investors have recently bought and sold shares of the company. Redhawk Wealth Advisors Inc. raised its stake in shares of Euroseas by 36.2% during the second quarter. Redhawk Wealth Advisors Inc. now owns 4,149 shares of the shipping company’s stock valued at $275,000 after acquiring an additional 1,102 shares in the last quarter. WINTON GROUP Ltd raised its holdings in shares of Euroseas by 33.1% in the second quarter. WINTON GROUP Ltd now owns 8,036 shares of the shipping company’s stock valued at $533,000 after acquiring an additional 1,998 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Euroseas by 4.2% in the first quarter. Renaissance Technologies LLC now owns 100,765 shares of the shipping company’s stock worth $6,736,000 after acquiring an additional 4,087 shares during the period. State of Wyoming bought a new position in Euroseas during the 1st quarter worth about $323,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Euroseas in the 2nd quarter worth approximately $423,000. 6.27% of the stock is owned by institutional investors.

About Euroseas

Euroseas Ltd. (NASDAQ: ESEA) is a shipping company that owns and operates containerships. The company primarily focuses on feeder and intermediate-size vessels, which transport containerized cargo on regional and international trade routes and connect smaller ports with major shipping hubs.

Euroseas charters its vessels to liner companies and other customers under a combination of time-charter and voyage arrangements. Its fleet serves global container transportation markets, with operations managed from Greece and vessels registered under international shipping jurisdictions.

Founded in 2005, Euroseas is led by Aristides Pittas, who serves as chairman and chief executive officer.