Euroseas (NASDAQ:ESEA) Downgraded by StockNews.com

Euroseas (NASDAQ:ESEA) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Friday.

A number of other equities analysts have also recently weighed in on the company. Noble Financial raised Euroseas to a “strong-buy” rating in a report on Wednesday, July 10th. Alliance Global Partners initiated coverage on Euroseas in a report on Monday, September 9th. They set a “buy” rating and a $60.00 price objective on the stock.

Euroseas Price Performance

ESEA opened at $44.56 on Friday. The stock has a market capitalization of $312.19 million, a P/E ratio of 2.93 and a beta of 0.85. The company has a current ratio of 1.46, a quick ratio of 1.41 and a debt-to-equity ratio of 0.52. Euroseas has a 12-month low of $22.50 and a 12-month high of $50.92. The stock has a 50-day moving average price of $43.99 and a 200-day moving average price of $39.29.

Euroseas (NASDAQ:ESEA) last announced its quarterly earnings data on Tuesday, August 6th. The shipping company reported $4.92 earnings per share for the quarter, beating analysts’ consensus estimates of $2.49 by $2.43. The company had revenue of $60.29 million for the quarter, compared to analysts’ expectations of $49.33 million. Euroseas had a return on equity of 38.07% and a net margin of 57.36%. Equities analysts predict that Euroseas will post 13.24 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Euroseas

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC grew its position in Euroseas by 3.0% during the 2nd quarter. Renaissance Technologies LLC now owns 97,478 shares of the shipping company’s stock worth $3,403,000 after acquiring an additional 2,877 shares during the last quarter. Acadian Asset Management LLC grew its position in Euroseas by 2.2% during the 2nd quarter. Acadian Asset Management LLC now owns 73,365 shares of the shipping company’s stock worth $2,559,000 after acquiring an additional 1,602 shares during the last quarter. Quadrature Capital Ltd grew its position in Euroseas by 51.4% during the 4th quarter. Quadrature Capital Ltd now owns 46,007 shares of the shipping company’s stock worth $1,434,000 after acquiring an additional 15,618 shares during the last quarter. CHURCHILL MANAGEMENT Corp bought a new position in Euroseas during the 1st quarter worth approximately $1,300,000. Finally, Janney Montgomery Scott LLC grew its position in Euroseas by 18.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 17,053 shares of the shipping company’s stock worth $611,000 after acquiring an additional 2,693 shares during the last quarter. 6.27% of the stock is currently owned by institutional investors.

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.