Euroseas Ltd. (NASDAQ:ESEA) Short Interest Update

Euroseas Ltd. (NASDAQ:ESEA) saw a significant increase in short interest in the month of December. As of December 15th, there was short interest totalling 13,100 shares, an increase of 15.9% from the November 30th total of 11,300 shares. Based on an average daily trading volume, of 47,600 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.5% of the company’s stock are short sold.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Barclays PLC raised its position in Euroseas by 67.5% during the 3rd quarter. Barclays PLC now owns 623 shares of the shipping company’s stock worth $30,000 after buying an additional 251 shares during the last quarter. Geode Capital Management LLC purchased a new position in shares of Euroseas during the third quarter worth $248,000. Redhawk Wealth Advisors Inc. raised its holdings in shares of Euroseas by 6.8% during the third quarter. Redhawk Wealth Advisors Inc. now owns 7,593 shares of the shipping company’s stock worth $371,000 after purchasing an additional 485 shares during the last quarter. Sheaff Brock Investment Advisors LLC lifted its position 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 valued at $382,000 after purchasing an additional 1,560 shares during the period. Finally, Squarepoint Ops LLC boosted its holdings in Euroseas by 42.5% in 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 during the last quarter. 6.27% of the stock is currently owned by hedge funds and other institutional investors.

Euroseas Stock Performance

NASDAQ:ESEA traded down $0.86 during trading hours on Monday, hitting $33.87. 51,167 shares of the company were exchanged, compared to its average volume of 41,543. The company’s 50 day moving average price is $39.14 and its 200-day moving average price is $40.82. The stock has a market capitalization of $237.29 million, a price-to-earnings ratio of 2.09 and a beta of 0.88. Euroseas has a 52-week low of $31.14 and a 52-week high of $50.92. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.65 and a quick ratio of 1.59.

Euroseas Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 17th. Stockholders of record on Monday, December 9th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 7.09%. The ex-dividend date of this dividend was Monday, December 9th. Euroseas’s dividend payout ratio is presently 14.80%.

Analyst Ratings Changes

ESEA has been the topic of several analyst reports. StockNews.com lowered Euroseas from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Alliance Global Partners began coverage on Euroseas in a report on Monday, September 9th. They set a “buy” rating and a $60.00 price objective for the company.

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.