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

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

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Euroseas

Institutional investors and hedge funds have recently made changes to their positions in the stock. Tucker Asset Management LLC bought a new position in shares of Euroseas during the 4th quarter worth about $86,000. Jump Financial LLC bought a new position in Euroseas in the 4th quarter valued at about $262,000. Virtu Financial LLC bought a new position in Euroseas in the 4th quarter valued at about $350,000. Janney Montgomery Scott LLC bought a new position in Euroseas in the 4th quarter valued at about $447,000. Finally, Acadian Asset Management LLC bought a new position in Euroseas in the 3rd quarter valued at about $551,000. Institutional investors own 6.27% of the company’s stock.

Euroseas Stock Performance

Shares of ESEA opened at $33.91 on Monday. The stock has a market capitalization of $237.71 million, a P/E ratio of 2.06 and a beta of 0.86. The firm’s fifty day simple moving average is $35.59 and its two-hundred day simple moving average is $32.89. 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 12 month low of $18.05 and a 12 month high of $42.29.

Euroseas (NASDAQ:ESEA) last released its quarterly earnings data on Wednesday, February 21st. The shipping company reported $3.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.85 by ($0.24). The company had revenue of $50.69 million for the quarter, compared to the consensus estimate of $50.97 million. Euroseas had a return on equity of 45.15% and a net margin of 60.50%. As a group, analysts predict 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 given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 7.08%. The ex-dividend date of this dividend was Thursday, March 7th. This is a boost from Euroseas’s previous quarterly dividend of $0.50. Euroseas’s dividend payout ratio is 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.