Euroseas (NASDAQ:ESEA) Share Price Crosses Above 200 Day Moving Average – What’s Next?

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 $70.05 and traded as high as $74.08. Euroseas shares last traded at $73.65, with a volume of 33,058 shares trading hands.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Wall Street Zen upgraded Euroseas from a “hold” rating to a “buy” rating in a report on Monday, June 1st. Zacks Research downgraded Euroseas from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 29th. Finally, Weiss Ratings upgraded Euroseas from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, August 14th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold”.

Euroseas Stock Up 1.2%

The stock has a market cap of $526.39 million, a P/E ratio of 3.84 and a beta of 0.41. The firm has a 50 day simple moving average of $74.43 and a 200-day simple moving average of $70.08. The company has a quick ratio of 5.38, a current ratio of 5.46 and a debt-to-equity ratio of 0.36.

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

Euroseas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Wednesday, September 9th will be given a dividend of $0.80 per share. The ex-dividend date is Wednesday, September 9th. This represents a $3.20 annualized dividend and a yield of 4.3%. Euroseas’s dividend payout ratio (DPR) is presently 16.47%.

Insider Buying and Selling at Euroseas

In other news, insider Symeon Pariaros sold 950 shares of the business’s stock in a transaction dated 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 sale, the insider owned 1,900 shares of the company’s stock, valued at approximately $150,100. The trade was a 33.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 55.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ESEA. Russell Investments Group Ltd. bought a new stake in shares of Euroseas in the fourth quarter valued at approximately $34,000. Bank of America Corp DE lifted its position in shares of Euroseas by 387.8% during the 2nd quarter. Bank of America Corp DE now owns 1,117 shares of the shipping company’s stock valued at $50,000 after acquiring an additional 888 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings 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. Quarry LP bought a new position in shares of Euroseas in the third quarter worth $89,000. Finally, Magnetar Financial LLC acquired a new position in Euroseas in the fourth quarter valued at about $204,000. Institutional investors and hedge funds own 6.27% of the company’s stock.

Euroseas Company Profile

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.