StockNews.com Downgrades Euroseas (NASDAQ:ESEA) to Hold

Euroseas (NASDAQ:ESEAGet Free Report) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Friday.

A number of other research analysts have also recently commented on the company. Alliance Global Partners started coverage on Euroseas in a research report on Monday, September 9th. They set a “buy” rating and a $60.00 price target on the stock. Noble Financial raised Euroseas to a “strong-buy” rating in a research report on Wednesday, July 10th.

Read Our Latest Research Report on ESEA

Euroseas Stock Down 11.5 %

ESEA stock opened at $44.56 on Friday. The stock’s fifty day simple moving average is $43.99 and its two-hundred day simple moving average is $39.29. The company has a current ratio of 1.46, a quick ratio of 1.41 and a debt-to-equity ratio of 0.52. Euroseas has a 1-year low of $22.50 and a 1-year high of $50.92. The stock has a market cap of $312.19 million, a P/E ratio of 2.93 and a beta of 0.85.

Euroseas (NASDAQ:ESEAGet Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The shipping company reported $4.92 EPS for the quarter, beating analysts’ consensus estimates of $2.49 by $2.43. Euroseas had a return on equity of 38.07% and a net margin of 57.36%. The firm had revenue of $60.29 million for the quarter, compared to analysts’ expectations of $49.33 million. Analysts expect that Euroseas will post 13.24 EPS for the current year.

Institutional Trading of Euroseas

A number of hedge funds and other institutional investors have recently made changes to their positions in ESEA. Beacon Capital Management LLC bought a new stake in shares of Euroseas during the 1st quarter valued at $36,000. Tucker Asset Management LLC bought a new stake in shares of Euroseas during the 4th quarter valued at $86,000. Redhawk Wealth Advisors Inc. bought a new stake in shares of Euroseas during the 2nd quarter valued at $248,000. Lazard Asset Management LLC raised its stake in shares of Euroseas by 3,282.3% during the 1st quarter. Lazard Asset Management LLC now owns 8,219 shares of the shipping company’s stock valued at $294,000 after purchasing an additional 7,976 shares during the period. Finally, Virtu Financial LLC bought a new stake in shares of Euroseas during the 4th quarter valued at $350,000. 6.27% of the stock is currently owned by institutional investors.

Euroseas Company Profile

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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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