Euroseas (NASDAQ:ESEA – Get Free Report) was downgraded by research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report issued on Wednesday.
Euroseas Price Performance
Shares of ESEA stock traded down $2.53 during trading hours on Wednesday, reaching $35.92. 66,818 shares of the company were exchanged, compared to its average volume of 76,598. Euroseas has a fifty-two week low of $16.88 and a fifty-two week high of $38.57. The stock’s fifty day moving average is $29.64 and its two-hundred day moving average is $26.31. The company has a market cap of $251.80 million, a price-to-earnings ratio of 2.28 and a beta of 0.86. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.34 and a quick ratio of 1.29.
Euroseas (NASDAQ:ESEA – Get Free Report) last announced its earnings results on Thursday, November 9th. The shipping company reported $4.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.01 by $1.06. Euroseas had a net margin of 60.14% and a return on equity of 46.99%. The company had revenue of $52.32 million for the quarter, compared to analyst estimates of $43.66 million. Sell-side analysts forecast that Euroseas will post 14.19 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Euroseas
A number of institutional investors and hedge funds have recently modified their holdings of the business. Millennium Management LLC raised its stake in shares of Euroseas by 57.1% during the second quarter. Millennium Management LLC now owns 136,234 shares of the shipping company’s stock worth $3,256,000 after buying an additional 49,492 shares during the last quarter. Marshall Wace LLP raised its stake in shares of Euroseas by 4.0% during the fourth quarter. Marshall Wace LLP now owns 67,934 shares of the shipping company’s stock worth $1,253,000 after buying an additional 2,616 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Euroseas by 20.7% during the second quarter. Renaissance Technologies LLC now owns 63,078 shares of the shipping company’s stock worth $1,508,000 after buying an additional 10,800 shares during the last quarter. Quadrature Capital Ltd bought a new stake in shares of Euroseas during the third quarter worth approximately $807,000. Finally, Walleye Capital LLC bought a new stake in shares of Euroseas during the first quarter worth approximately $766,000. 2.75% of the stock is owned by institutional investors.
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 May 02, 2023, it had a fleet of 18 vessels, including 11 feeder and 7 intermediate containerships with a cargo capacity of approximately 56, 061 twenty-foot equivalent unit.