Euroseas Ltd. (NASDAQ:ESEA) Short Interest Up 104.0% in February

Euroseas Ltd. (NASDAQ:ESEA) was the target of a significant growth in short interest in the month of February. As of February 15th, there was short interest totalling 20,400 shares, a growth of 104.0% from the January 31st total of 10,000 shares. Based on an average daily volume of 42,100 shares, the short-interest ratio is currently 0.5 days. Approximately 0.7% of the shares of the company are sold short.

Euroseas Price Performance

Shares of NASDAQ ESEA traded up $1.82 during mid-day trading on Friday, reaching $35.40. The company’s stock had a trading volume of 50,185 shares, compared to its average volume of 36,335. The firm has a market capitalization of $248.01 million, a PE ratio of 2.18 and a beta of 0.85. 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 has a fifty day moving average of $33.82 and a two-hundred day moving average of $39.43. Euroseas has a 52 week low of $30.21 and a 52 week high of $50.92.

Euroseas Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 11th will be paid a $0.65 dividend. This is a positive change from Euroseas’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 7.34%. Euroseas’s dividend payout ratio is 14.80%.

Hedge Funds Weigh In On Euroseas

A number of hedge funds have recently made changes to their positions in ESEA. Sheaff Brock Investment Advisors LLC lifted its position in shares of Euroseas by 25.0% in the third quarter. Sheaff Brock Investment Advisors LLC now owns 7,810 shares of the shipping company’s stock worth $382,000 after buying an additional 1,560 shares in the last quarter. Barclays PLC lifted its position in shares of Euroseas by 67.5% in the third quarter. Barclays PLC now owns 623 shares of the shipping company’s stock worth $30,000 after buying an additional 251 shares in the last quarter. Geode Capital Management LLC purchased a new stake in shares of Euroseas in the third quarter worth about $248,000. Retireful LLC purchased a new stake in shares of Euroseas in the fourth quarter worth about $222,000. Finally, Exchange Traded Concepts LLC purchased a new stake in shares of Euroseas in the fourth quarter worth about $306,000. Institutional investors own 6.27% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered Euroseas from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th.

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.