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

Euroseas Ltd. (NASDAQ:ESEAGet Free Report) 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.

Read Our Latest Report on ESEA

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

(Get Free Report)

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.

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