Euroseas Ltd. (NASDAQ:ESEA) Short Interest Down 30.2% in March

Euroseas Ltd. (NASDAQ:ESEA) saw a large decline in short interest during the month of March. As of March 13th, there was short interest totaling 35,519 shares, a decline of 30.2% from the February 26th total of 50,860 shares. Approximately 1.1% of the shares of the stock are sold short. Based on an average daily volume of 86,107 shares, the short-interest ratio is presently 0.4 days.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of Euroseas in a research report on Monday, December 29th. Wall Street Zen raised Euroseas from a “hold” rating to a “buy” rating in a research note on Saturday. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $62.00.

Institutional Investors Weigh In On Euroseas

A number of institutional investors have recently bought and sold shares of ESEA. Russell Investments Group Ltd. purchased a new position in Euroseas in the fourth quarter valued at about $34,000. Bank of America Corp DE raised its stake in shares of Euroseas by 387.8% during the 2nd quarter. Bank of America Corp DE now owns 1,117 shares of the shipping company’s stock worth $50,000 after purchasing an additional 888 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Euroseas by 540.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,280 shares of the shipping company’s stock valued at $76,000 after buying an additional 1,080 shares during the last quarter. Quarry LP acquired a new stake in shares of Euroseas during the 3rd quarter valued at about $89,000. Finally, Blue Bell Private Wealth Management LLC bought a new stake in shares of Euroseas in the 3rd quarter valued at approximately $205,000. 6.27% of the stock is currently owned by institutional investors and hedge funds.

Euroseas Trading Down 2.9%

Shares of ESEA stock traded down $1.80 during trading hours on Friday, reaching $60.81. 84,487 shares of the stock traded hands, compared to its average volume of 88,339. The company has a quick ratio of 4.82, a current ratio of 4.89 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $426.28 million, a PE ratio of 3.10 and a beta of 0.80. Euroseas has a 1-year low of $26.30 and a 1-year high of $72.86. The business has a fifty day moving average price of $60.84 and a 200 day moving average price of $58.92.

Euroseas (NASDAQ:ESEA) last posted its quarterly earnings data on Thursday, February 26th. The shipping company reported $4.48 EPS for the quarter, topping analysts’ consensus estimates of $4.47 by $0.01. The firm had revenue of $57.39 million during the quarter, compared to analyst estimates of $57.83 million. Euroseas had a net margin of 60.11% and a return on equity of 27.82%. On average, equities research analysts forecast that Euroseas will post 15.15 EPS for the current year.

Euroseas Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 17th. Investors of record on Tuesday, March 10th were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Tuesday, March 10th. This is a positive change from Euroseas’s previous quarterly dividend of $0.70. This represents a $3.00 annualized dividend and a yield of 4.9%. Euroseas’s payout ratio is presently 15.29%.

About Euroseas

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.