Short Interest in Euroseas Ltd. (NASDAQ:ESEA) Grows By 22.9%

Euroseas Ltd. (NASDAQ:ESEAGet Free Report) was the target of a significant increase in short interest in the month of January. As of January 15th, there was short interest totalling 16,100 shares, an increase of 22.9% from the December 31st total of 13,100 shares. Currently, 0.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 44,900 shares, the short-interest ratio is presently 0.4 days.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Euroseas from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th.

View Our Latest Report on Euroseas

Euroseas Trading Down 0.6 %

ESEA opened at $31.39 on Friday. The company has a quick ratio of 1.59, a current ratio of 1.65 and a debt-to-equity ratio of 0.53. Euroseas has a twelve month low of $30.65 and a twelve month high of $50.92. The stock has a market capitalization of $220.04 million, a price-to-earnings ratio of 1.94 and a beta of 0.90. The company has a 50-day simple moving average of $35.51 and a 200 day simple moving average of $40.19.

Euroseas Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 17th. Investors of record on Monday, December 9th were given a dividend of $0.60 per share. The ex-dividend date was Monday, December 9th. This represents a $2.40 annualized dividend and a dividend yield of 7.65%. Euroseas’s dividend payout ratio is 14.80%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Inspire Investing LLC bought a new stake in Euroseas during the third quarter worth $913,000. Exchange Traded Concepts LLC acquired a new position in shares of Euroseas during the 4th quarter worth $306,000. Retireful LLC bought a new stake in shares of Euroseas during the 4th quarter worth $222,000. Geode Capital Management LLC acquired a new stake in Euroseas in the third quarter valued at about $248,000. Finally, Squarepoint Ops LLC boosted its stake in Euroseas by 42.5% in the second quarter. Squarepoint Ops LLC now owns 12,135 shares of the shipping company’s stock valued at $424,000 after buying an additional 3,617 shares in the last quarter. 6.27% of the stock is 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.

Further Reading

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