Short Interest in Euroseas Ltd. (NASDAQ:ESEA) Decreases By 45.8%

Euroseas Ltd. (NASDAQ:ESEA) was the recipient of a large decline in short interest during the month of July. As of July 15th, there was short interest totaling 16,243 shares, a decline of 45.8% from the June 30th total of 29,949 shares. Currently, 0.5% of the company’s shares are sold short. Based on an average trading volume of 51,882 shares, the days-to-cover ratio is currently 0.3 days.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on ESEA shares. Zacks Research upgraded shares of Euroseas from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 30th. Wall Street Zen upgraded shares of Euroseas from a “hold” rating to a “buy” rating in a research report on Monday, June 1st. Alliance Global Partners reaffirmed a “buy” rating on shares of Euroseas in a research note on Monday, April 20th. Finally, Weiss Ratings lowered Euroseas from a “buy (b)” rating to a “hold (c)” rating in a research note on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Euroseas has an average rating of “Buy”.

Institutional Trading of Euroseas

Several large investors have recently modified their holdings of the business. Bank of America Corp DE raised its position in Euroseas by 1,611.0% during the 4th quarter. Bank of America Corp DE now owns 1,865 shares of the shipping company’s stock valued at $68,000 after purchasing an additional 1,756 shares during the last quarter. Geode Capital Management LLC purchased a new position in shares of Euroseas during the second quarter valued at approximately $226,000. Jump Financial LLC purchased a new position in shares of Euroseas during the second quarter valued at approximately $260,000. Raymond James Financial Inc. bought a new position in shares of Euroseas during the second quarter valued at approximately $870,000. Finally, Jane Street Group LLC bought a new position in shares of Euroseas during the second quarter valued at approximately $259,000. 6.27% of the stock is owned by institutional investors.

Euroseas Trading Up 3.3%

Shares of NASDAQ ESEA traded up $2.48 during mid-day trading on Thursday, hitting $78.47. The stock had a trading volume of 16,835 shares, compared to its average volume of 64,960. The company has a debt-to-equity ratio of 0.39, a quick ratio of 5.38 and a current ratio of 5.46. Euroseas has a 1 year low of $48.89 and a 1 year high of $78.85. The business has a 50 day moving average price of $69.02 and a two-hundred day moving average price of $65.65. The firm has a market cap of $554.00 million, a P/E ratio of 4.13 and a beta of 0.45.

Euroseas (NASDAQ:ESEA) last announced its quarterly earnings results on Thursday, May 21st. The shipping company reported $4.70 earnings per share for the quarter, beating the consensus estimate of $4.26 by $0.44. The business had revenue of $55.84 million during the quarter, compared to analysts’ expectations of $56.61 million. Euroseas had a net margin of 58.31% and a return on equity of 27.55%. On average, equities analysts anticipate that Euroseas will post 18.1 EPS for the current fiscal year.

Euroseas Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 16th. Stockholders of record on Tuesday, June 9th were issued a dividend of $0.80 per share. This is an increase from Euroseas’s previous quarterly dividend of $0.75. This represents a $3.20 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date was Tuesday, June 9th. Euroseas’s dividend payout ratio (DPR) is currently 16.86%.

Euroseas Company Profile

Euroseas Ltd. (NASDAQ: ESEA) is an international shipping company specializing in seaborne transportation of containerized and drybulk cargoes. Incorporated in Bermuda with its principal operations and management office based in Athens, Greece, the company owns and charters a diversified fleet of containerships, drybulk carriers and multipurpose vessels. Euroseas provides tailored shipping solutions on time-charter and voyage-charter agreements, serving manufacturers, commodity traders and logistics providers across major trade routes.

Euroseas’s fleet comprises both owned and chartered tonnage, enabling the company to adjust capacity to market conditions and customer requirements.