Zacks: Euroseas Ltd. (ESEA) Given Average Rating of “Strong Buy” by Analysts

Shares of Euroseas Ltd. (NASDAQ:ESEA) have been given a consensus broker rating score of 1.00 (Strong Buy) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. Two research analysts have rated the stock with a strong buy rating.

Brokers have set a 1-year consensus price target of $2.75 for the company and are predicting that the company will post $0.04 earnings per share for the current quarter, according to Zacks. Zacks has also given Euroseas an industry rank of 113 out of 257 based on the ratings given to its competitors.

Several research firms have commented on ESEA. Maxim Group reiterated a “buy” rating and set a $3.00 price objective on shares of Euroseas in a research note on Monday, August 13th. Noble Financial began coverage on Euroseas in a research note on Friday, September 21st. They set an “outperform” rating for the company.

An institutional investor recently raised its position in Euroseas stock. Renaissance Technologies LLC boosted its position in shares of Euroseas Ltd. (NASDAQ:ESEA) by 98.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 88,395 shares of the shipping company’s stock after buying an additional 43,800 shares during the period. Renaissance Technologies LLC owned 0.78% of Euroseas worth $155,000 at the end of the most recent quarter. 1.98% of the stock is owned by institutional investors and hedge funds.

Shares of Euroseas stock traded up $0.03 on Friday, hitting $1.80. The company’s stock had a trading volume of 38,780 shares, compared to its average volume of 2,175,929. The company has a quick ratio of 0.49, a current ratio of 0.53 and a debt-to-equity ratio of 5.09. Euroseas has a 1 year low of $1.08 and a 1 year high of $3.87. The firm has a market cap of $17.48 million, a PE ratio of -4.86 and a beta of 0.49.

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; and drybulk carriers that transport iron ore, coal, grains, bauxite, phosphate, and fertilizers.

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