Euroseas Ltd. (NASDAQ:ESEA) Short Interest Update

Euroseas Ltd. (NASDAQ:ESEA) was the recipient of a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 34,000 shares, an increase of 27.8% from the March 15th total of 26,600 shares. Approximately 1.2% of the company’s shares are short sold. Based on an average daily trading volume, of 37,600 shares, the short-interest ratio is currently 0.9 days.

Euroseas Trading Down 2.1 %

Shares of NASDAQ ESEA traded down $0.63 during trading on Monday, hitting $28.77. 6,205 shares of the company traded hands, compared to its average volume of 38,501. 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 firm has a market capitalization of $201.56 million, a P/E ratio of 1.77 and a beta of 0.66. The company has a 50-day moving average price of $31.61 and a 200-day moving average price of $35.58. Euroseas has a 1 year low of $26.30 and a 1 year high of $50.92.

Euroseas Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders 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 positive change from Euroseas’s previous quarterly dividend of $0.60. This represents a $2.60 annualized dividend and a yield of 9.04%. Euroseas’s dividend payout ratio is currently 16.10%.

Analyst Ratings Changes

Separately, StockNews.com began coverage on shares of Euroseas in a report on Saturday, March 22nd. They set a “buy” rating on the stock.

Hedge Funds Weigh In On Euroseas

Large investors have recently modified their holdings of the company. Barclays PLC raised its holdings in Euroseas by 67.5% in the third quarter. Barclays PLC now owns 623 shares of the shipping company’s stock valued at $30,000 after buying an additional 251 shares during the period. Bank of America Corp DE lifted its holdings in shares of Euroseas by 1,611.0% during the 4th quarter. Bank of America Corp DE now owns 1,865 shares of the shipping company’s stock valued at $68,000 after acquiring an additional 1,756 shares in the last quarter. Geode Capital Management LLC purchased a new stake in Euroseas during the 3rd quarter worth $248,000. Retireful LLC acquired a new stake in Euroseas in the 4th quarter valued at $222,000. Finally, Exchange Traded Concepts LLC acquired a new stake in Euroseas in the 4th quarter valued at $306,000. 6.27% of the stock is currently 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.