Euroseas Ltd. (NASDAQ:ESEA) Short Interest Update

by · The Markets Daily

Euroseas Ltd. (NASDAQ:ESEA – Get Free Report) was the recipient of a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 34,000 shares, a growth of 27.8% from the March 15th total of 26,600 shares. Based on an average trading volume of 37,600 shares, the days-to-cover ratio is presently 0.9 days. Approximately 1.2% of the shares of the company are short sold.

Hedge Funds Weigh In On Euroseas

Several large investors have recently bought and sold shares of the stock. Barclays PLC lifted its position in Euroseas by 67.5% during the 3rd quarter. Barclays PLC now owns 623 shares of the shipping company’s stock worth $30,000 after acquiring an additional 251 shares during the period. Cubist Systematic Strategies LLC increased its holdings in Euroseas by 4.6% in the fourth quarter. Cubist Systematic Strategies LLC now owns 10,813 shares of the shipping company’s stock valued at $391,000 after buying an additional 471 shares in the last quarter. Bank of America Corp DE raised its holdings in Euroseas by 1,611.0% during the fourth quarter. Bank of America Corp DE now owns 1,865 shares of the shipping company’s stock worth $68,000 after purchasing an additional 1,756 shares during the last quarter. Sheaff Brock Investment Advisors LLC raised its stake in shares of Euroseas by 46.1% during the 4th quarter. Sheaff Brock Investment Advisors LLC now owns 11,410 shares of the shipping company’s stock worth $413,000 after buying an additional 3,600 shares during the last quarter. Finally, Geode Capital Management LLC purchased a new stake in shares of Euroseas in the third quarter valued at about $248,000. Institutional investors and hedge funds own 6.27% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on Euroseas in a research report on Saturday, March 22nd. They issued a “buy” rating for the company.

Get Our Latest Research Report on ESEA

Euroseas Stock Down 2.1 %

Shares of Euroseas stock traded down $0.63 on Monday, reaching $28.77. 6,205 shares of the company were exchanged, compared to its average volume of 38,501. Euroseas has a 1-year low of $26.30 and a 1-year high of $50.92. The stock’s 50 day moving average price is $31.61 and its 200-day moving average price is $35.58. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.65 and a quick ratio of 1.59. The company has a market cap of $201.56 million, a P/E ratio of 1.77 and a beta of 0.66.

Euroseas Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 11th were paid a $0.65 dividend. This is a positive change from Euroseas’s previous quarterly dividend of $0.60. This represents a $2.60 annualized dividend and a yield of 9.04%. The ex-dividend date was Tuesday, March 11th. Euroseas’s dividend payout ratio is currently 16.10%.

About Euroseas

(Get Free Report)

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.

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