Short Interest in Euroseas Ltd. (NASDAQ:ESEA) Grows By 22.9%

Euroseas Ltd. (NASDAQ:ESEA) saw a large increase in short interest during the month of January. As of January 15th, there was short interest totalling 16,100 shares, an increase of 22.9% from the December 31st total of 13,100 shares. Currently, 0.6% of the company’s stock are short sold. Based on an average daily trading volume, of 44,900 shares, the short-interest ratio is currently 0.4 days.

Hedge Funds Weigh In On Euroseas

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Inspire Investing LLC acquired a new stake in shares of Euroseas in the third quarter valued at approximately $913,000. BayBridge Capital Group LLC boosted its position in Euroseas by 8.7% during the third quarter. BayBridge Capital Group LLC now owns 13,244 shares of the shipping company’s stock worth $647,000 after purchasing an additional 1,057 shares during the period. Squarepoint Ops LLC increased its holdings in shares of Euroseas by 42.5% in the second quarter. Squarepoint Ops LLC now owns 12,135 shares of the shipping company’s stock valued at $424,000 after purchasing an additional 3,617 shares during the last quarter. Sheaff Brock Investment Advisors LLC raised its position in shares of Euroseas by 46.1% in the fourth quarter. Sheaff Brock Investment Advisors LLC now owns 11,410 shares of the shipping company’s stock valued at $413,000 after purchasing an additional 3,600 shares during the period. Finally, Exchange Traded Concepts LLC acquired a new stake in shares of Euroseas during the 4th quarter worth about $306,000. Institutional investors own 6.27% of the company’s stock.

Euroseas Price Performance

Shares of ESEA opened at $31.39 on Friday. The company has a market cap of $220.04 million, a price-to-earnings ratio of 1.94 and a beta of 0.90. 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 company’s fifty day simple moving average is $35.51 and its 200 day simple moving average is $40.19. Euroseas has a 1-year low of $30.65 and a 1-year high of $50.92.

Euroseas Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 17th. Stockholders of record on Monday, December 9th were issued a $0.60 dividend. The ex-dividend date of this dividend was Monday, December 9th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 7.65%. Euroseas’s payout ratio is 14.80%.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Euroseas from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th.

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.