Euroseas Ltd. (NASDAQ:ESEA) Sees Large Decline in Short Interest

Euroseas Ltd. (NASDAQ:ESEA) was the recipient of a large decrease in short interest during the month of February. As of February 27th, there was short interest totaling 50,860 shares, a decrease of 13.0% from the February 12th total of 58,482 shares. Currently, 1.6% of the shares of the stock are sold short. Based on an average trading volume of 55,816 shares, the short-interest ratio is currently 0.9 days. Based on an average trading volume of 55,816 shares, the short-interest ratio is currently 0.9 days. Currently, 1.6% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

ESEA has been the subject of a number of recent research reports. Wall Street Zen cut shares of Euroseas from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Weiss Ratings restated a “buy (b-)” rating on shares of Euroseas in a report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $62.00.

Euroseas Trading Up 3.1%

Shares of ESEA stock traded up $2.09 during trading hours on Tuesday, hitting $68.67. 31,812 shares of the company were exchanged, compared to its average volume of 50,097. The firm has a fifty day moving average of $58.85 and a 200 day moving average of $58.66. The company has a quick ratio of 4.82, a current ratio of 4.89 and a debt-to-equity ratio of 0.43. Euroseas has a 1 year low of $26.30 and a 1 year high of $72.86. The firm has a market cap of $481.34 million, a PE ratio of 3.48 and a beta of 0.80.

Euroseas (NASDAQ:ESEA) last issued its quarterly earnings results on Wednesday, February 25th. The shipping company reported $4.48 EPS for the quarter, topping the consensus estimate of $4.47 by $0.01. Euroseas had a net margin of 60.11% and a return on equity of 27.82%. The firm had revenue of $57.39 million during the quarter, compared to analyst estimates of $57.83 million. Analysts expect that Euroseas will post 15.15 earnings per share for the current year.

Euroseas Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 17th. Stockholders of record on Tuesday, March 10th will be given a $0.75 dividend. The ex-dividend date of this dividend is Tuesday, March 10th. This is an increase from Euroseas’s previous quarterly dividend of $0.70. This represents a $3.00 annualized dividend and a dividend yield of 4.4%. Euroseas’s dividend payout ratio (DPR) is currently 15.29%.

Institutional Trading of Euroseas

A number of hedge funds and other institutional investors have recently modified their holdings of ESEA. Russell Investments Group Ltd. bought a new position in shares of Euroseas in the fourth quarter valued at approximately $34,000. Allworth Financial LP acquired a new stake in Euroseas during the second quarter valued at $45,000. Bank of America Corp DE grew 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 in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Euroseas by 540.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,280 shares of the shipping company’s stock worth $76,000 after purchasing an additional 1,080 shares in the last quarter. Finally, Quarry LP acquired a new stake in shares of Euroseas during the 3rd quarter valued at about $89,000. 6.27% of the stock is owned by hedge funds and other 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.