Short Interest in Euroseas Ltd. (NASDAQ:ESEA) Increases By 68.1%

Euroseas Ltd. (NASDAQ:ESEA) saw a significant increase in short interest during the month of April. As of April 15th, there was short interest totalling 7,900 shares, an increase of 68.1% from the March 31st total of 4,700 shares. Based on an average daily volume of 42,500 shares, the short-interest ratio is presently 0.2 days. Approximately 0.3% of the shares of the company are short sold.

Institutional Investors Weigh In On Euroseas

Hedge funds and other institutional investors have recently modified their holdings of the stock. Tucker Asset Management LLC acquired a new stake in shares of Euroseas in the fourth quarter worth $86,000. Jump Financial LLC bought a new position in Euroseas in the fourth quarter worth $262,000. Virtu Financial LLC bought a new position in Euroseas in the fourth quarter worth $350,000. Janney Montgomery Scott LLC bought a new position in Euroseas in the fourth quarter worth $447,000. Finally, Acadian Asset Management LLC bought a new position in Euroseas in the third quarter worth $551,000. Institutional investors and hedge funds own 6.27% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com downgraded Euroseas from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 20th.

Euroseas Trading Down 0.2 %

Shares of Euroseas stock opened at $33.91 on Friday. The company’s fifty day simple moving average is $35.62 and its 200-day simple moving average is $32.81. The company has a market cap of $237.71 million, a price-to-earnings ratio of 2.06 and a beta of 0.86. The company has a current ratio of 1.29, a quick ratio of 1.24 and a debt-to-equity ratio of 0.37. Euroseas has a 1 year low of $18.05 and a 1 year high of $42.29.

Euroseas (NASDAQ:ESEA) last announced its quarterly earnings data on Wednesday, February 21st. The shipping company reported $3.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.85 by ($0.24). The company had revenue of $50.69 million during the quarter, compared to analyst estimates of $50.97 million. Euroseas had a return on equity of 45.15% and a net margin of 60.50%. As a group, sell-side analysts expect that Euroseas will post 11.64 EPS for the current year.

Euroseas Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 8th were paid a $0.60 dividend. This is an increase from Euroseas’s previous quarterly dividend of $0.50. The ex-dividend date was Thursday, March 7th. This represents a $2.40 annualized dividend and a dividend yield of 7.08%. Euroseas’s dividend payout ratio (DPR) is presently 14.58%.

Euroseas Company Profile

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 May 02, 2023, it had a fleet of 18 vessels, including 11 feeder and 7 intermediate containerships with a cargo capacity of approximately 56, 061 twenty-foot equivalent unit.