Euroseas (NASDAQ:ESEA) Now Covered by StockNews.com

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

Euroseas Stock Performance

Euroseas stock opened at $30.76 on Friday. Euroseas has a twelve month low of $28.36 and a twelve month high of $50.92. The company has a quick ratio of 1.59, a current ratio of 1.65 and a debt-to-equity ratio of 0.53. The company’s 50-day moving average price is $32.90 and its 200-day moving average price is $38.05. The company has a market cap of $215.50 million, a PE ratio of 1.90 and a beta of 0.72.

Euroseas Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 11th were paid a dividend of $0.65 per share. The ex-dividend date was Tuesday, March 11th. This is a boost from Euroseas’s previous quarterly dividend of $0.60. This represents a $2.60 dividend on an annualized basis and a dividend yield of 8.45%. Euroseas’s payout ratio is currently 16.10%.

Hedge Funds Weigh In On Euroseas

A number of large investors have recently made changes to their positions in the company. Novem Group purchased a new position in shares of Euroseas during the 4th quarter worth about $847,000. Millennium Management LLC boosted its stake in shares of Euroseas by 661.4% during the 4th quarter. Millennium Management LLC now owns 40,931 shares of the shipping company’s stock worth $1,482,000 after purchasing an additional 35,555 shares during the period. Lazard Asset Management LLC boosted its stake in shares of Euroseas by 30.9% during the 4th quarter. Lazard Asset Management LLC now owns 30,165 shares of the shipping company’s stock worth $1,091,000 after purchasing an additional 7,127 shares during the period. Cubist Systematic Strategies LLC boosted its position in Euroseas by 4.6% in the 4th quarter. Cubist Systematic Strategies LLC now owns 10,813 shares of the shipping company’s stock valued at $391,000 after buying an additional 471 shares during the period. Finally, Bank of America Corp DE boosted its position in 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 buying an additional 1,756 shares during the period. 6.27% of the stock is owned by hedge funds and other institutional investors.

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.