Euroseas Ltd. (NASDAQ:ESEA) Short Interest Down 36.4% in October

Euroseas Ltd. (NASDAQ:ESEA) was the target of a significant decrease in short interest during the month of October. As of October 31st, there was short interest totalling 7,700 shares, a decrease of 36.4% from the October 15th total of 12,100 shares. Based on an average trading volume of 45,300 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.3% of the company’s stock are sold short.

Wall Street Analyst Weigh In

ESEA has been the subject of several research reports. StockNews.com lowered Euroseas from a “buy” rating to a “hold” rating in a report on Tuesday. Alliance Global Partners began coverage on shares of Euroseas in a research note on Monday, September 9th. They issued a “buy” rating and a $60.00 target price for the company.

Institutional Trading of Euroseas

Institutional investors and hedge funds have recently modified their holdings of the company. Beacon Capital Management LLC acquired a new position in shares of Euroseas during the 1st quarter worth about $36,000. Redhawk Wealth Advisors Inc. acquired a new position in shares of Euroseas in the 2nd quarter valued at $248,000. Lazard Asset Management LLC raised its position in Euroseas by 3,282.3% in the first quarter. Lazard Asset Management LLC now owns 8,219 shares of the shipping company’s stock worth $294,000 after purchasing an additional 7,976 shares in the last quarter. Sheaff Brock Investment Advisors LLC lifted its stake in Euroseas by 25.0% during the third quarter. Sheaff Brock Investment Advisors LLC now owns 7,810 shares of the shipping company’s stock worth $382,000 after purchasing an additional 1,560 shares during the period. Finally, Squarepoint Ops LLC boosted its holdings in Euroseas by 42.5% during the second quarter. Squarepoint Ops LLC now owns 12,135 shares of the shipping company’s stock valued at $424,000 after purchasing an additional 3,617 shares in the last quarter. 6.27% of the stock is currently owned by institutional investors and hedge funds.

Euroseas Stock Up 3.9 %

Shares of NASDAQ:ESEA traded up $1.58 on Thursday, reaching $41.71. The company had a trading volume of 14,741 shares, compared to its average volume of 40,706. The stock has a market capitalization of $292.39 million, a P/E ratio of 2.37 and a beta of 0.88. The stock has a 50-day moving average price of $43.68 and a 200 day moving average price of $40.68. Euroseas has a twelve month low of $26.20 and a twelve month high of $50.92. The company has a quick ratio of 1.41, a current ratio of 1.46 and a debt-to-equity ratio of 0.52.

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.