Euroseas (NASDAQ:ESEA) Shares Pass Above Two Hundred Day Moving Average – Time to Sell?

Euroseas Ltd. (NASDAQ:ESEA)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $64.47 and traded as high as $71.61. Euroseas shares last traded at $69.23, with a volume of 49,941 shares changing hands.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ESEA. Zacks Research upgraded shares of Euroseas from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 30th. Wall Street Zen raised shares of Euroseas from a “hold” rating to a “buy” rating in a report on Monday, June 1st. Alliance Global Partners reissued a “buy” rating on shares of Euroseas in a research report on Monday, April 20th. Finally, Weiss Ratings lowered shares of 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 given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy”.

Euroseas Stock Down 3.5%

The company has a debt-to-equity ratio of 0.39, a quick ratio of 5.38 and a current ratio of 5.46. The firm has a market capitalization of $488.76 million, a P/E ratio of 3.65 and a beta of 0.45. The stock has a fifty day moving average price of $68.31 and a two-hundred day moving average price of $64.47.

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

Euroseas Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 16th. Stockholders of record on Tuesday, June 9th were given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date was Tuesday, June 9th. This is an increase from Euroseas’s previous quarterly dividend of $0.75. Euroseas’s payout ratio is 16.86%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ESEA. Renaissance Technologies LLC raised its stake in Euroseas by 4.2% during the first quarter. Renaissance Technologies LLC now owns 100,765 shares of the shipping company’s stock worth $6,736,000 after acquiring an additional 4,087 shares during the period. Millennium Management LLC boosted its stake in Euroseas by 171.7% in the fourth quarter. Millennium Management LLC now owns 53,386 shares of the shipping company’s stock valued at $2,915,000 after acquiring an additional 33,738 shares during the period. Lazard Asset Management LLC boosted its stake in Euroseas by 3.7% in the fourth quarter. Lazard Asset Management LLC now owns 35,031 shares of the shipping company’s stock valued at $1,913,000 after acquiring an additional 1,262 shares during the period. Citadel Advisors LLC grew its holdings in shares of Euroseas by 144.9% during the third quarter. Citadel Advisors LLC now owns 26,576 shares of the shipping company’s stock valued at $1,584,000 after purchasing an additional 15,724 shares during the last quarter. Finally, Inspire Investing LLC bought a new position in shares of Euroseas during the first quarter valued at approximately $1,591,000. 6.27% of the stock is owned by institutional investors and hedge funds.

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.