Short Interest in Euroseas Ltd. (NASDAQ:ESEA) Rises By 12.8%

Euroseas Ltd. (NASDAQ:ESEA) was the recipient of a significant increase in short interest in September. As of September 30th, there was short interest totalling 12,300 shares, an increase of 12.8% from the September 15th total of 10,900 shares. Approximately 0.4% of the company’s stock are short sold. Based on an average daily volume of 42,300 shares, the short-interest ratio is currently 0.3 days.

Euroseas Price Performance

Shares of ESEA opened at $43.13 on Tuesday. The company has a 50 day moving average of $44.84 and a two-hundred day moving average of $39.68. The company has a market cap of $302.17 million, a price-to-earnings ratio of 2.83 and a beta of 0.85. The company has a quick ratio of 1.41, a current ratio of 1.46 and a debt-to-equity ratio of 0.52. Euroseas has a twelve month low of $22.50 and a twelve month high of $50.92.

Euroseas (NASDAQ:ESEA) last announced its earnings results on Tuesday, August 6th. The shipping company reported $4.92 earnings per share for the quarter, topping the consensus estimate of $2.49 by $2.43. Euroseas had a return on equity of 38.07% and a net margin of 57.36%. The firm had revenue of $60.29 million for the quarter, compared to the consensus estimate of $49.33 million. As a group, analysts predict that Euroseas will post 14.99 earnings per share for the current fiscal year.

Euroseas Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Monday, September 9th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 5.56%. The ex-dividend date was Monday, September 9th. Euroseas’s payout ratio is currently 15.76%.

Analysts Set New Price Targets

A number of research firms have weighed in on ESEA. StockNews.com upgraded Euroseas from a “hold” rating to a “buy” rating in a report on Saturday. Noble Financial upgraded Euroseas to a “strong-buy” rating in a research note on Wednesday, July 10th. Finally, Alliance Global Partners began coverage on shares of Euroseas in a report on Monday, September 9th. They issued a “buy” rating and a $60.00 target price for the company.

Institutional Trading of Euroseas

Several large investors have recently bought and sold shares of the stock. Virtu Financial LLC acquired a new stake in shares of Euroseas during the fourth quarter worth $350,000. Quadrature Capital Ltd grew its stake in Euroseas by 51.4% during the 4th quarter. Quadrature Capital Ltd now owns 46,007 shares of the shipping company’s stock valued at $1,434,000 after purchasing an additional 15,618 shares during the last quarter. CHURCHILL MANAGEMENT Corp acquired a new position in shares of Euroseas in the first quarter valued at about $1,300,000. Janney Montgomery Scott LLC raised its stake in shares of Euroseas by 18.8% in the first quarter. Janney Montgomery Scott LLC now owns 17,053 shares of the shipping company’s stock worth $611,000 after purchasing an additional 2,693 shares during the last quarter. Finally, Acadian Asset Management LLC raised its stake in shares of Euroseas by 49.6% in the first quarter. Acadian Asset Management LLC now owns 71,763 shares of the shipping company’s stock worth $2,570,000 after purchasing an additional 23,796 shares during the last quarter. Hedge funds and other institutional investors 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.