Euroseas (NASDAQ:ESEA) Cut to Hold at StockNews.com

Euroseas (NASDAQ:ESEA) was downgraded by investment 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 research report on Monday, September 9th. They issued a “buy” rating and a $60.00 price target on the stock.

Euroseas Stock Performance

Shares of ESEA traded down $0.23 during mid-day trading on Tuesday, hitting $39.92. The stock had a trading volume of 57,891 shares, compared to its average volume of 40,730. The company has a quick ratio of 1.41, a current ratio of 1.46 and a debt-to-equity ratio of 0.52. The company has a market cap of $279.84 million, a PE ratio of 2.36 and a beta of 0.88. Euroseas has a fifty-two week low of $24.54 and a fifty-two week high of $50.92. The company’s fifty day simple moving average is $43.74 and its two-hundred day simple moving average is $40.68.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Janney Montgomery Scott LLC boosted its position in shares of Euroseas by 18.8% during the first quarter. Janney Montgomery Scott LLC now owns 17,053 shares of the shipping company’s stock worth $611,000 after buying an additional 2,693 shares during the period. Acadian Asset Management LLC increased its holdings in shares of Euroseas by 49.6% during the first quarter. Acadian Asset Management LLC now owns 71,763 shares of the shipping company’s stock valued at $2,570,000 after purchasing an additional 23,796 shares during the period. Lazard Asset Management LLC raised its stake in shares of Euroseas by 3,282.3% during the first quarter. Lazard Asset Management LLC now owns 8,219 shares of the shipping company’s stock valued at $294,000 after purchasing an additional 7,976 shares in the last quarter. Beacon Capital Management LLC acquired a new stake in Euroseas in the first quarter worth about $36,000. Finally, Redhawk Wealth Advisors Inc. acquired a new position in Euroseas during the 2nd quarter valued at about $248,000. 6.27% of the stock is owned by institutional investors and hedge funds.

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.