Euroseas (NASDAQ:ESEA) Shares Pass Above Two Hundred Day Moving Average - What's Next?

Shares of Euroseas Ltd. (NASDAQ:ESEA - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $36.01 and traded as high as $50.25. Euroseas shares last traded at $49.56, with a volume of 36,173 shares changing hands.

Analyst Ratings Changes

ESEA has been the subject of a number of recent analyst reports. Maxim Group boosted their price target on shares of Euroseas from $57.00 to $62.00 and gave the company a "buy" rating in a research report on Monday, June 23rd. Wall Street Zen upgraded shares of Euroseas from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st.

Euroseas Trading Down 0.3%

The stock has a market cap of $362.84 million, a PE ratio of 2.79 and a beta of 0.81. The company has a quick ratio of 1.68, a current ratio of 1.74 and a debt-to-equity ratio of 0.56. The stock's fifty day moving average price is $44.44 and its 200 day moving average price is $36.54.

Euroseas (NASDAQ:ESEA - Get Free Report) last released its quarterly earnings data on Wednesday, June 18th. The shipping company reported $3.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.35 by $0.41. The company had revenue of $54.74 million during the quarter, compared to analysts' expectations of $53.92 million. Euroseas had a net margin of 58.28% and a return on equity of 31.70%. During the same period in the previous year, the company earned $2.66 EPS. On average, sell-side analysts forecast that Euroseas Ltd. will post 15.15 EPS for the current year.

Euroseas Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 16th. Shareholders of record on Wednesday, July 9th were paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 5.02%. The ex-dividend date was Wednesday, July 9th. Euroseas's dividend payout ratio (DPR) is presently 14.00%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership grew its stake in shares of Euroseas by 389.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 53,840 shares of the shipping company's stock worth $1,949,000 after purchasing an additional 42,830 shares during the period. Millennium Management LLC raised its holdings in Euroseas by 661.4% during the 4th quarter. Millennium Management LLC now owns 40,931 shares of the shipping company's stock worth $1,482,000 after buying an additional 35,555 shares during the period. Novem Group bought a new stake in shares of Euroseas in the 4th quarter valued at approximately $847,000. Marshall Wace LLP boosted its position in Euroseas by 71.5% during the fourth quarter. Marshall Wace LLP now owns 40,703 shares of the shipping company's stock worth $1,473,000 after purchasing an additional 16,969 shares during the period. Finally, Renaissance Technologies LLC boosted its position in Euroseas by 17.0% during the fourth quarter. Renaissance Technologies LLC now owns 115,078 shares of the shipping company's stock worth $4,166,000 after purchasing an additional 16,700 shares during the period. Institutional investors and hedge funds own 6.27% of the company's stock.

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.