Euroseas (NASDAQ:ESEA) Coverage Initiated at Wall Street Zen

Wall Street Zen initiated coverage on shares of Euroseas (NASDAQ:ESEA - Free Report) in a research report report published on Tuesday morning. The firm issued a hold rating on the shipping company's stock.

Euroseas Price Performance

ESEA traded down $0.46 on Tuesday, reaching $37.83. 10,480 shares of the company's stock were exchanged, compared to its average volume of 37,870. Euroseas has a twelve month low of $26.30 and a twelve month high of $50.92. The stock has a market cap of $265.19 million, a PE ratio of 2.33 and a beta of 0.75. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.65 and a quick ratio of 1.59. The stock's fifty day moving average price is $32.20 and its 200-day moving average price is $34.22.

Euroseas Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 11th were given a $0.65 dividend. The ex-dividend date was Tuesday, March 11th. This is a positive change from Euroseas's previous quarterly dividend of $0.60. This represents a $2.60 dividend on an annualized basis and a dividend yield of 6.87%. Euroseas's dividend payout ratio is 16.10%.

Institutional Investors Weigh In On Euroseas

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Boston Partners boosted its stake in Euroseas by 37.5% during the first quarter. Boston Partners now owns 17,045 shares of the shipping company's stock worth $522,000 after buying an additional 4,647 shares during the last quarter. Novem Group acquired a new stake in shares of Euroseas in the 4th quarter worth $847,000. Millennium Management LLC raised its holdings in shares of 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 acquiring an additional 35,555 shares during the period. Lazard Asset Management LLC boosted its position in shares of Euroseas by 30.9% during the 4th quarter. Lazard Asset Management LLC now owns 30,165 shares of the shipping company's stock valued at $1,091,000 after acquiring an additional 7,127 shares during the last quarter. Finally, Cubist Systematic Strategies LLC boosted its position in shares of Euroseas by 4.6% during the 4th quarter. Cubist Systematic Strategies LLC now owns 10,813 shares of the shipping company's stock valued at $391,000 after acquiring an additional 471 shares during the last quarter. Institutional investors and hedge funds own 6.27% of the company's stock.

Euroseas Company Profile

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.