Euroseas (NASDAQ:ESEA) Share Price Passes Above Two Hundred Day Moving Average of $32.58

Euroseas Ltd. (NASDAQ:ESEA) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $32.58 and traded as high as $33.58. Euroseas shares last traded at $32.80, with a volume of 24,292 shares changing hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Euroseas from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 20th.

Euroseas Price Performance

The firm’s fifty day simple moving average is $35.79 and its 200 day simple moving average is $32.62. The firm has a market cap of $232.10 million, a P/E ratio of 2.01 and a beta of 0.86. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.24 and a current ratio of 1.29.

Euroseas (NASDAQ:ESEA) last released its quarterly earnings data on Wednesday, February 21st. The shipping company reported $3.61 EPS for the quarter, missing the consensus estimate of $3.85 by ($0.24). Euroseas had a net margin of 60.50% and a return on equity of 45.15%. The company had revenue of $50.69 million for the quarter, compared to the consensus estimate of $50.97 million. As a group, analysts forecast that Euroseas Ltd. will post 11.64 earnings per share for the current year.

Euroseas Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 8th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 7.25%. The ex-dividend date was Thursday, March 7th. This is an increase from Euroseas’s previous quarterly dividend of $0.50. Euroseas’s dividend payout ratio is 14.58%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. UBS Group AG bought a new position in shares of Euroseas in the 3rd quarter valued at about $51,000. Tucker Asset Management LLC bought a new position in shares of Euroseas in the 4th quarter valued at about $86,000. Walleye Trading LLC bought a new position in shares of Euroseas in the 1st quarter valued at about $221,000. Goldman Sachs Group Inc. bought a new position in shares of Euroseas in the 4th quarter valued at about $253,000. Finally, Jump Financial LLC bought a new position in shares of Euroseas in the 4th quarter valued at about $262,000. Institutional investors own 6.27% of the company’s stock.

About Euroseas

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 May 02, 2023, it had a fleet of 18 vessels, including 11 feeder and 7 intermediate containerships with a cargo capacity of approximately 56, 061 twenty-foot equivalent unit.