Euroseas (NASDAQ:ESEA) Research Coverage Started at Wall Street Zen

Wall Street Zen began coverage on shares of Euroseas (NASDAQ:ESEA) in a research report sent to investors on Tuesday. The firm issued a hold rating on the shipping company’s stock.

Euroseas Price Performance

Euroseas stock opened at $38.29 on Tuesday. The business’s 50-day simple moving average is $32.04 and its 200 day simple moving average is $34.34. The company has a quick ratio of 1.59, a current ratio of 1.65 and a debt-to-equity ratio of 0.53. The stock has a market cap of $268.41 million, a price-to-earnings ratio of 2.36 and a beta of 0.75. Euroseas has a 12-month low of $26.30 and a 12-month high of $50.92.

Euroseas Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 11th were paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 6.79%. This is an increase from Euroseas’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Tuesday, March 11th. Euroseas’s payout ratio is 16.10%.

Hedge Funds Weigh In On Euroseas

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Arrowstreet Capital Limited Partnership lifted its stake in shares of Euroseas by 389.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 53,840 shares of the shipping company’s stock valued at $1,949,000 after purchasing an additional 42,830 shares during the period. Millennium Management LLC boosted its holdings in Euroseas by 661.4% during the fourth quarter. Millennium Management LLC now owns 40,931 shares of the shipping company’s stock worth $1,482,000 after buying an additional 35,555 shares during the last quarter. Novem Group acquired a new position in shares of Euroseas during the 4th quarter worth about $847,000. Marshall Wace LLP increased its stake in shares of Euroseas by 71.5% in the 4th quarter. Marshall Wace LLP now owns 40,703 shares of the shipping company’s stock valued at $1,473,000 after acquiring an additional 16,969 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Euroseas by 17.0% in the 4th quarter. Renaissance Technologies LLC now owns 115,078 shares of the shipping company’s stock valued at $4,166,000 after acquiring an additional 16,700 shares during the period. 6.27% of the stock is 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.