Euroseas (NASDAQ:ESEA) Lowered to Hold Rating by StockNews.com

Euroseas (NASDAQ:ESEA) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Tuesday.

Separately, Alliance Global Partners started coverage on shares of Euroseas in a report on Monday, September 9th. They issued a “buy” rating and a $60.00 target price on the stock.

Euroseas Price Performance

NASDAQ:ESEA traded down $0.23 during mid-day trading on Tuesday, reaching $39.92. 57,891 shares of the stock were exchanged, compared to its average volume of 40,730. The company has a current ratio of 1.46, a quick ratio of 1.41 and a debt-to-equity ratio of 0.52. The business has a fifty day moving average price of $43.74 and a 200 day moving average price of $40.68. Euroseas has a 1-year low of $24.54 and a 1-year high of $50.92. The firm has a market capitalization of $279.84 million, a PE ratio of 2.36 and a beta of 0.88.

Institutional Investors Weigh In On Euroseas

Several hedge funds have recently modified their holdings of the stock. Acadian Asset Management LLC raised its holdings in Euroseas by 49.6% during the 1st quarter. Acadian Asset Management LLC now owns 71,763 shares of the shipping company’s stock worth $2,570,000 after buying an additional 23,796 shares during the period. Inspire Investing LLC acquired a new stake in shares of Euroseas during the third quarter valued at approximately $913,000. Lazard Asset Management LLC lifted its position in shares of Euroseas by 3,282.3% in the 1st quarter. Lazard Asset Management LLC now owns 8,219 shares of the shipping company’s stock valued at $294,000 after acquiring an additional 7,976 shares in the last quarter. Redhawk Wealth Advisors Inc. acquired a new position in Euroseas in the 2nd quarter worth approximately $248,000. Finally, Squarepoint Ops LLC grew its position in Euroseas by 42.5% during the 2nd quarter. Squarepoint Ops LLC now owns 12,135 shares of the shipping company’s stock worth $424,000 after purchasing an additional 3,617 shares in the last quarter. 6.27% of the stock is owned by hedge funds and other institutional investors.

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.