Euroseas (NASDAQ:ESEA) Share Price Crosses Above 200-Day Moving Average – Time to Sell?

Euroseas Ltd. (NASDAQ:ESEA)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $50.98 and traded as high as $61.01. Euroseas shares last traded at $59.57, with a volume of 32,546 shares changing hands.

Wall Street Analyst Weigh In

ESEA has been the topic of a number of analyst reports. Weiss Ratings restated a “buy (b-)” rating on shares of Euroseas in a report on Wednesday, October 8th. Zacks Research cut Euroseas from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 14th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Euroseas currently has an average rating of “Moderate Buy” and an average price target of $62.00.

Euroseas Stock Performance

The firm’s fifty day moving average price is $59.10 and its 200-day moving average price is $50.98. The company has a current ratio of 3.21, a quick ratio of 3.15 and a debt-to-equity ratio of 0.51. The firm has a market cap of $417.41 million, a price-to-earnings ratio of 3.50 and a beta of 0.94.

Euroseas (NASDAQ:ESEA) last announced its quarterly earnings results on Wednesday, August 13th. The shipping company reported $4.20 EPS for the quarter, topping the consensus estimate of $3.87 by $0.33. Euroseas had a net margin of 53.75% and a return on equity of 28.56%. The firm had revenue of $57.23 million for the quarter, compared to analyst estimates of $53.31 million. Analysts expect that Euroseas Ltd. will post 15.15 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Allworth Financial LP purchased a new position in shares of Euroseas during the second quarter worth approximately $45,000. Bank of America Corp DE boosted its stake in Euroseas by 387.8% during the 2nd quarter. Bank of America Corp DE now owns 1,117 shares of the shipping company’s stock worth $50,000 after purchasing an additional 888 shares during the period. Blue Bell Private Wealth Management LLC purchased a new position in Euroseas during the 3rd quarter worth $205,000. Inspire Advisors LLC acquired a new position in Euroseas in the third quarter valued at $219,000. Finally, Geode Capital Management LLC acquired a new position in Euroseas in the second quarter valued at $226,000. Institutional investors and hedge funds own 6.27% of the company’s stock.

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. As of March 31, 2024, it had a fleet of 20 containerships with a cargo carrying capacity of approximately 777,749 dwt.