Euroseas (NASDAQ:ESEA) Share Price Breaks Above 200 Day Moving Average – Here’s Why

Shares of Euroseas Ltd. (NASDAQ:ESEA) crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $70.92 and traded as high as $73.48. Euroseas shares last traded at $72.85, with a volume of 23,749 shares.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Weiss Ratings downgraded Euroseas from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, October 2nd. Freedom Broker assumed coverage on Euroseas in a report on Tuesday, September 29th. They set a “buy” rating and a $93.00 price objective for the company. Finally, Zacks Research lowered Euroseas from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 29th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $93.00.

Euroseas Stock Performance

The company has a fifty day moving average of $74.55 and a two-hundred day moving average of $70.98. The firm has a market capitalization of $502.95 million, a price-to-earnings ratio of 3.67 and a beta of 0.62. The company has a debt-to-equity ratio of 0.36, a quick ratio of 5.38 and a current ratio of 5.46.

Euroseas (NASDAQ:ESEA) last issued its quarterly earnings results on Thursday, August 13th. The shipping company reported $4.70 EPS for the quarter, topping analysts’ consensus estimates of $4.09 by $0.61. Euroseas had a return on equity of 26.58% and a net margin of 59.98%.The company had revenue of $56.50 million for the quarter, compared to analysts’ expectations of $55.98 million. As a group, equities research analysts predict that Euroseas Ltd. will post 18.03 earnings per share for the current fiscal year.

Euroseas Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 16th. Stockholders of record on Wednesday, September 9th were given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date was Wednesday, September 9th. Euroseas’s dividend payout ratio (DPR) is 16.47%.

Insider Activity at Euroseas

In other news, insider Symeon Pariaros sold 950 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $79.00, for a total value of $75,050.00. Following the completion of the sale, the insider directly owned 1,900 shares in the company, valued at $150,100. This trade represents a 33.33% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 55.90% of the stock is currently owned by company insiders.

Institutional Trading of Euroseas

A number of institutional investors and hedge funds have recently modified their holdings of ESEA. WINTON GROUP Ltd increased its holdings in Euroseas by 33.1% in the 2nd quarter. WINTON GROUP Ltd now owns 8,036 shares of the shipping company’s stock worth $533,000 after acquiring an additional 1,998 shares during the last quarter. Navellier & Associates Inc. grew its holdings in Euroseas by 94.8% during the 2nd quarter. Navellier & Associates Inc. now owns 15,562 shares of the shipping company’s stock valued at $1,033,000 after buying an additional 7,575 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in Euroseas during the 2nd quarter valued at about $423,000. Redhawk Wealth Advisors Inc. increased its position in shares of Euroseas by 36.2% during the second quarter. Redhawk Wealth Advisors Inc. now owns 4,149 shares of the shipping company’s stock valued at $275,000 after buying an additional 1,102 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in shares of Euroseas by 4.2% in the first quarter. Renaissance Technologies LLC now owns 100,765 shares of the shipping company’s stock worth $6,736,000 after buying an additional 4,087 shares in the last quarter. 6.27% of the stock is owned by hedge funds and other institutional investors.

Euroseas Company Profile

Euroseas Ltd. (NASDAQ: ESEA) is a shipping company that owns and operates containerships engaged in the transportation of containerized cargo. Its vessels generally serve the feeder and intermediate segments of the container shipping market, connecting smaller or regional ports with major international trade routes.

The company’s fleet is employed primarily through time charters, voyage charters and pool arrangements, depending on market conditions and vessel characteristics. Euroseas serves customers involved in global commerce across a range of international and regional trading areas, with operations managed from Athens, Greece, and a corporate domicile in the Marshall Islands.

Euroseas was established in 2005 by the Pittas family, which has a long history in commercial shipping.