Euroseas (NASDAQ:ESEA) Cut to Hold at StockNews.com

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

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

Euroseas Stock Performance

Shares of ESEA traded up $0.06 during trading hours on Tuesday, reaching $41.80. 10,533 shares of the company traded hands, compared to its average volume of 40,637. Euroseas has a 1-year low of $26.20 and a 1-year high of $50.92. The stock has a market cap of $293.02 million, a P/E ratio of 2.47 and a beta of 0.88. The stock’s fifty day moving average is $43.65 and its 200 day moving average is $40.69. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.41 and a current ratio of 1.46.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Inspire Investing LLC bought a new stake in shares of Euroseas in the 3rd quarter valued at approximately $913,000. Acadian Asset Management LLC grew its position in Euroseas by 49.6% in the first quarter. Acadian Asset Management LLC now owns 71,763 shares of the shipping company’s stock valued at $2,570,000 after acquiring an additional 23,796 shares during the period. Lazard Asset Management LLC raised its stake in Euroseas by 3,282.3% during the first quarter. Lazard Asset Management LLC now owns 8,219 shares of the shipping company’s stock worth $294,000 after acquiring an additional 7,976 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of Euroseas by 18.8% during the first quarter. Janney Montgomery Scott LLC now owns 17,053 shares of the shipping company’s stock valued at $611,000 after acquiring an additional 2,693 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in shares of Euroseas by 3.0% during the second quarter. Renaissance Technologies LLC now owns 97,478 shares of the shipping company’s stock valued at $3,403,000 after acquiring an additional 2,877 shares during the period. 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.