Euroseas Ltd. (NASDAQ:ESEA) Short Interest Update

Euroseas Ltd. (NASDAQ:ESEA) saw a significant drop in short interest during the month of February. As of February 27th, there was short interest totaling 50,860 shares, a drop of 13.0% from the February 12th total of 58,482 shares. Based on an average daily volume of 55,816 shares, the days-to-cover ratio is currently 0.9 days. Currently, 1.6% of the shares of the company are short sold. Currently, 1.6% of the shares of the company are short sold. Based on an average daily volume of 55,816 shares, the days-to-cover ratio is currently 0.9 days.

Institutional Investors Weigh In On Euroseas

A number of hedge funds have recently bought and sold shares of ESEA. Bank of America Corp DE increased its holdings in Euroseas by 1,611.0% during the fourth quarter. Bank of America Corp DE now owns 1,865 shares of the shipping company’s stock valued at $68,000 after buying an additional 1,756 shares during the period. Allworth Financial LP purchased a new stake in Euroseas in the second quarter valued at approximately $45,000. Geode Capital Management LLC purchased a new position in Euroseas during the second quarter worth about $226,000. Quadrature Capital Ltd purchased a new position in Euroseas in the second quarter valued at about $319,000. Finally, Jump Financial LLC acquired a new stake in shares of Euroseas during the 2nd quarter valued at approximately $260,000. Hedge funds and other institutional investors own 6.27% of the company’s stock.

Euroseas Price Performance

Shares of ESEA stock traded up $2.09 during mid-day trading on Tuesday, hitting $68.67. The company had a trading volume of 31,812 shares, compared to its average volume of 50,097. The company has a debt-to-equity ratio of 0.43, a current ratio of 4.89 and a quick ratio of 4.82. The stock’s 50 day moving average price is $58.85 and its 200-day moving average price is $58.66. Euroseas has a 52-week low of $26.30 and a 52-week high of $72.86. The company has a market capitalization of $481.34 million, a P/E ratio of 3.48 and a beta of 0.80.

Euroseas (NASDAQ:ESEA) last released its quarterly earnings data on Wednesday, February 25th. The shipping company reported $4.48 EPS for the quarter, beating the consensus estimate of $4.47 by $0.01. The business had revenue of $57.39 million during the quarter, compared to the consensus estimate of $57.83 million. Euroseas had a net margin of 60.11% and a return on equity of 27.82%. Equities research analysts forecast that Euroseas will post 15.15 earnings per share for the current year.

Euroseas Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 17th. Stockholders of record on Tuesday, March 10th will be given a dividend of $0.75 per share. The ex-dividend date is Tuesday, March 10th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 4.4%. This is an increase from Euroseas’s previous quarterly dividend of $0.70. Euroseas’s dividend payout ratio is currently 15.29%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ESEA. Weiss Ratings reissued a “buy (b-)” rating on shares of Euroseas in a research report on Monday, December 29th. Wall Street Zen cut shares of Euroseas from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $62.00.

Euroseas Company Profile

Euroseas Ltd. (NASDAQ: ESEA) is an international shipping company specializing in seaborne transportation of containerized and drybulk cargoes. Incorporated in Bermuda with its principal operations and management office based in Athens, Greece, the company owns and charters a diversified fleet of containerships, drybulk carriers and multipurpose vessels. Euroseas provides tailored shipping solutions on time-charter and voyage-charter agreements, serving manufacturers, commodity traders and logistics providers across major trade routes.

Euroseas’s fleet comprises both owned and chartered tonnage, enabling the company to adjust capacity to market conditions and customer requirements.