Euroseas Ltd. (NASDAQ:ESEA) Short Interest Update

Key Points

• Short interest in Euroseas fell 45.8% to 16,243 shares as of July 15, representing about 0.5% of shares outstanding and only 0.3 days to cover.
• Analyst sentiment is broadly positive, with the stock receiving an average “Buy” rating from coverage that includes Strong Buy, Buy, and Hold opinions. Institutional investors own 6.27% of the company.
• Euroseas reported quarterly EPS of $4.70, exceeding estimates, and raised its quarterly dividend to $0.80 per share, implying a $3.20 annualized payout and a 4.1% yield.

Euroseas Ltd. (NASDAQ:ESEA - Get Free Report) was the recipient of a significant decline in short interest in July. As of July 15th, there was short interest totaling 16,243 shares, a decline of 45.8% from the June 30th total of 29,949 shares. Based on an average daily trading volume, of 51,882 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.5% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ESEA. Russell Investments Group Ltd. bought a new position in shares of Euroseas during the 4th quarter worth $34,000. Bank of America Corp DE raised its holdings in shares of Euroseas by 387.8% in the 2nd 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 holdings in shares of Euroseas by 540.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,280 shares of the shipping company's stock valued at $76,000 after purchasing an additional 1,080 shares in the last quarter. Quarry LP purchased a new stake in shares of Euroseas in the 3rd quarter worth approximately $89,000. Finally, Magnetar Financial LLC bought a new position in shares of Euroseas during the fourth quarter valued at approximately $204,000. Institutional investors own 6.27% of the company's stock.

Wall Street Analyst Weigh In

ESEA has been the topic of several research reports. Alliance Global Partners reaffirmed a "buy" rating on shares of Euroseas in a report on Monday, April 20th. Wall Street Zen raised shares of Euroseas from a "hold" rating to a "buy" rating in a research note on Monday, June 1st. Weiss Ratings lowered shares of Euroseas from a "buy (b)" rating to a "hold (c)" rating in a research report on Tuesday, May 26th. Finally, Zacks Research raised shares of Euroseas from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Euroseas currently has an average rating of "Buy".

Euroseas Trading Up 1.4%

Shares of NASDAQ:ESEA traded up $1.07 during trading on Wednesday, hitting $77.28. The company had a trading volume of 33,914 shares, compared to its average volume of 65,159. The stock has a market cap of $545.63 million, a price-to-earnings ratio of 4.07 and a beta of 0.45. The company has a debt-to-equity ratio of 0.39, a current ratio of 5.46 and a quick ratio of 5.38. The company has a fifty day simple moving average of $68.92 and a two-hundred day simple moving average of $65.50. Euroseas has a one year low of $48.89 and a one year high of $78.85.

Euroseas (NASDAQ:ESEA - Get Free Report) last issued its quarterly earnings results on Thursday, May 21st. The shipping company reported $4.70 EPS for the quarter, beating the consensus estimate of $4.26 by $0.44. The company had revenue of $55.84 million for the quarter, compared to the consensus estimate of $56.61 million. Euroseas had a net margin of 58.31% and a return on equity of 27.55%. As a group, equities analysts forecast that Euroseas will post 18.1 earnings per share for the current year.

Euroseas Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 16th. Investors of record on Tuesday, June 9th were issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date was Tuesday, June 9th. This is a positive change from Euroseas's previous quarterly dividend of $0.75. Euroseas's dividend payout ratio (DPR) is 16.86%.

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.

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