Short Interest in Euroseas Ltd. (NASDAQ:ESEA) Rises By 104.0%

Euroseas Ltd. (NASDAQ:ESEA) saw a large growth in short interest during the month of February. As of February 15th, there was short interest totalling 20,400 shares, a growth of 104.0% from the January 31st total of 10,000 shares. Currently, 0.7% of the company’s stock are short sold. Based on an average daily trading volume, of 42,100 shares, the short-interest ratio is currently 0.5 days.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Euroseas from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th.

Euroseas Stock Up 5.4 %

Shares of Euroseas stock traded up $1.82 during trading hours on Friday, hitting $35.40. The company had a trading volume of 50,185 shares, compared to its average volume of 36,335. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.65 and a quick ratio of 1.59. The company’s 50-day moving average is $33.82 and its two-hundred day moving average is $39.43. The company has a market cap of $248.01 million, a P/E ratio of 2.18 and a beta of 0.85. Euroseas has a twelve month low of $30.21 and a twelve month high of $50.92.

Euroseas Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 11th will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 7.34%. This is a boost from Euroseas’s previous quarterly dividend of $0.60. Euroseas’s payout ratio is 14.80%.

Institutional Trading of Euroseas

Several institutional investors and hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC acquired a new position in Euroseas during the third quarter worth approximately $248,000. Retireful LLC purchased a new position in shares of Euroseas during the fourth quarter worth approximately $222,000. Exchange Traded Concepts LLC acquired a new position in shares of Euroseas in the 4th quarter valued at $306,000. Sheaff Brock Investment Advisors LLC raised its position in Euroseas by 25.0% in the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 7,810 shares of the shipping company’s stock valued at $382,000 after purchasing an additional 1,560 shares during the last quarter. Finally, Barclays PLC boosted its stake in Euroseas by 67.5% during the 3rd quarter. Barclays PLC now owns 623 shares of the shipping company’s stock worth $30,000 after purchasing an additional 251 shares during the period. 6.27% of the stock is owned by hedge funds and other institutional investors.

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 March 31, 2024, it had a fleet of 20 containerships with a cargo carrying capacity of approximately 777,749 dwt.