Euroseas (NASDAQ:ESEA) Rating Lowered to “Hold” at StockNews.com

StockNews.com cut shares of Euroseas (NASDAQ:ESEA) from a buy rating to a hold rating in a research note issued to investors on Tuesday.

Separately, Alliance Global Partners assumed coverage on Euroseas in a report on Monday, September 9th. They set a “buy” rating and a $60.00 target price on the stock.

Euroseas Stock Performance

Shares of NASDAQ ESEA opened at $39.92 on Tuesday. Euroseas has a 1 year low of $24.54 and a 1 year high of $50.92. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.41 and a current ratio of 1.46. The stock has a fifty day moving average price of $43.74 and a two-hundred day moving average price of $40.68. The firm has a market cap of $279.84 million, a P/E ratio of 2.36 and a beta of 0.88.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Beacon Capital Management LLC bought a new stake in shares of Euroseas during the 1st quarter worth $36,000. Redhawk Wealth Advisors Inc. acquired a new stake in shares of Euroseas during the second quarter worth $248,000. Lazard Asset Management LLC lifted its holdings in shares of Euroseas by 3,282.3% during the first quarter. Lazard Asset Management LLC now owns 8,219 shares of the shipping company’s stock valued at $294,000 after purchasing an additional 7,976 shares during the last quarter. Sheaff Brock Investment Advisors LLC boosted its position in shares of Euroseas by 25.0% in the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 7,810 shares of the shipping company’s stock valued at $382,000 after purchasing an additional 1,560 shares during the period. Finally, Squarepoint Ops LLC increased its stake in Euroseas by 42.5% in the 2nd quarter. Squarepoint Ops LLC now owns 12,135 shares of the shipping company’s stock worth $424,000 after purchasing an additional 3,617 shares in the last quarter. 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.