ValuEngine Downgrades Euroseas Ltd. (ESEA) to Strong Sell

ValuEngine lowered shares of Euroseas Ltd. (NASDAQ:ESEA) from a sell rating to a strong sell rating in a research note issued to investors on Tuesday, August 1st.

Separately, Zacks Investment Research cut Euroseas from a buy rating to a hold rating in a research note on Monday, May 8th.

Euroseas (NASDAQ:ESEA) opened at 1.32 on Tuesday. Euroseas has a 1-year low of $1.04 and a 1-year high of $8.07. The stock’s 50 day moving average price is $1.32 and its 200 day moving average price is $1.40. The stock’s market capitalization is $14.60 million.

Euroseas (NASDAQ:ESEA) last issued its earnings results on Wednesday, August 9th. The shipping company reported ($0.13) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.03) by $0.10. The business had revenue of $10.01 million during the quarter. Euroseas had a negative net margin of 77.39% and a negative return on equity of 17.55%. Equities research analysts forecast that Euroseas will post ($0.48) earnings per share for the current year.

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A hedge fund recently raised its stake in Euroseas stock. Renaissance Technologies LLC raised its stake in Euroseas Ltd. (NASDAQ:ESEA) by 28.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 198,670 shares of the shipping company’s stock after buying an additional 43,800 shares during the period. Renaissance Technologies LLC owned 2.42% of Euroseas worth $336,000 at the end of the most recent quarter. Institutional investors and hedge funds own 2.82% of the company’s stock.

About Euroseas

Euroseas Ltd. is engaged in the shipping business. The Company is an owner and operator of drybulk and container carrier vessels and is a provider of seaborne transportation for drybulk and containerized cargoes. Eurobulk Ltd. manages the Company’s operations. The Company also owns and operates dry bulk carriers that transport major bulks, such as iron ore, coal and grains, and minor bulks, such as bauxite, phosphate and fertilizers.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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