StockNews.com Initiates Coverage on Euroseas (NASDAQ:ESEA)

StockNews.com assumed coverage on shares of Euroseas (NASDAQ:ESEA) in a research report released on Saturday morning. The firm issued a buy rating on the shipping company’s stock.

Euroseas Stock Performance

ESEA opened at $31.15 on Friday. The stock’s 50 day simple moving average is $32.84 and its 200-day simple moving average is $37.93. The company has a current ratio of 1.65, a quick ratio of 1.59 and a debt-to-equity ratio of 0.53. The stock has a market cap of $218.24 million, a PE ratio of 1.92 and a beta of 0.72. Euroseas has a 1 year low of $28.36 and a 1 year high of $50.92.

Euroseas Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 11th were paid a $0.65 dividend. This is a boost from Euroseas’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 8.35%. Euroseas’s dividend payout ratio is currently 16.10%.

Institutional Trading of Euroseas

Institutional investors have recently made changes to their positions in the business. Barclays PLC raised its position in Euroseas by 67.5% in the third quarter. Barclays PLC now owns 623 shares of the shipping company’s stock worth $30,000 after purchasing an additional 251 shares in the last quarter. Bank of America Corp DE grew its stake in shares of Euroseas by 1,611.0% in the 4th quarter. Bank of America Corp DE now owns 1,865 shares of the shipping company’s stock valued at $68,000 after purchasing an additional 1,756 shares during the period. Retireful LLC acquired a new position in shares of Euroseas in the 4th quarter worth approximately $222,000. Geode Capital Management LLC bought a new position in shares of Euroseas during the 3rd quarter worth approximately $248,000. Finally, Exchange Traded Concepts LLC bought a new position in shares of Euroseas during the 4th quarter worth approximately $306,000. 6.27% of the stock is currently owned by institutional investors and hedge funds.

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