Euroseas Ltd. (NASDAQ:ESEA) Stock Short Interest Declines 43.6%

Euroseas Ltd. (NASDAQ:ESEA) was the target of a significant decrease in short interest during the month of September. As of September 30th, there was short interest totaling 31,339 shares, a decrease of 43.6% from the September 15th total of 55,584 shares. Approximately 1.0% of the company’s shares are short sold. Based on an average trading volume of 48,837 shares, the days-to-cover ratio is presently 0.6 days.

Euroseas Stock Down 1.8%

ESEA traded down $1.22 during mid-day trading on Friday, reaching $66.23. 27,552 shares of the stock were exchanged, compared to its average volume of 57,918. The company has a debt-to-equity ratio of 0.36, a quick ratio of 5.38 and a current ratio of 5.46. The stock has a market capitalization of $467.24 million, a PE ratio of 3.40 and a beta of 0.62. Euroseas has a 1 year low of $51.00 and a 1 year high of $79.67. The company has a 50 day moving average price of $73.81 and a two-hundred day moving average price of $71.19.

Euroseas (NASDAQ:ESEA) last announced its earnings results on Thursday, August 13th. The shipping company reported $4.70 earnings per share for the quarter, topping analysts’ consensus estimates of $4.09 by $0.61. Euroseas had a return on equity of 26.58% and a net margin of 59.98%. The firm had revenue of $56.50 million for the quarter, compared to the consensus estimate of $55.98 million. As a group, research analysts anticipate that Euroseas will post 18.03 EPS for the current year.

Euroseas Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 16th. Stockholders of record on Wednesday, September 9th were given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date of this dividend was Wednesday, September 9th. Euroseas’s dividend payout ratio is currently 16.47%.

Analyst Ratings Changes

Several research firms recently commented on ESEA. Freedom Broker initiated coverage on Euroseas in a research note on Tuesday, September 29th. They set a “buy” rating and a $93.00 target price for the company. Zacks Research lowered Euroseas from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 29th. Finally, Weiss Ratings cut Euroseas from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, October 2nd. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $93.00.

Insiders Place Their Bets

In other Euroseas news, insider Symeon Pariaros sold 950 shares of the stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $79.00, for a total transaction of $75,050.00. Following the completion of the sale, the insider directly owned 1,900 shares in the company, valued at approximately $150,100. This trade represents a 33.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 55.90% of the company’s stock.

Institutional Trading of Euroseas

Hedge funds and other institutional investors have recently modified their holdings of the business. Redhawk Wealth Advisors Inc. boosted its stake in Euroseas by 36.2% in the second quarter. Redhawk Wealth Advisors Inc. now owns 4,149 shares of the shipping company’s stock worth $275,000 after buying an additional 1,102 shares in the last quarter. State of Wyoming bought a new stake in shares of Euroseas during the 1st quarter valued at $323,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Euroseas in the 2nd quarter worth approximately $423,000. WINTON GROUP Ltd raised its holdings in Euroseas by 33.1% in the second quarter. WINTON GROUP Ltd now owns 8,036 shares of the shipping company’s stock worth $533,000 after buying an additional 1,998 shares during the last quarter. Finally, Navellier & Associates Inc. lifted its holdings in shares of Euroseas by 94.8% during the second quarter. Navellier & Associates Inc. now owns 15,562 shares of the shipping company’s stock valued at $1,033,000 after purchasing an additional 7,575 shares in the last quarter. Institutional investors own 6.27% of the company’s stock.

About Euroseas

Euroseas Ltd. (NASDAQ: ESEA) is a shipping company that owns and operates containerships engaged in the transportation of containerized cargo. Its vessels generally serve the feeder and intermediate segments of the container shipping market, connecting smaller or regional ports with major international trade routes.

The company’s fleet is employed primarily through time charters, voyage charters and pool arrangements, depending on market conditions and vessel characteristics. Euroseas serves customers involved in global commerce across a range of international and regional trading areas, with operations managed from Athens, Greece, and a corporate domicile in the Marshall Islands.

Euroseas was established in 2005 by the Pittas family, which has a long history in commercial shipping.