StockNews.com Downgrades Euroseas (NASDAQ:ESEA) to Hold

StockNews.com lowered shares of Euroseas (NASDAQ:ESEA) from a buy rating to a hold rating in a report published on Tuesday morning.

Separately, Alliance Global Partners initiated coverage on Euroseas in a research report on Monday, September 9th. They issued a “buy” rating and a $60.00 price target on the stock.

Euroseas Price Performance

NASDAQ ESEA opened at $42.77 on Tuesday. The company has a market cap of $299.82 million, a P/E ratio of 2.53 and a beta of 0.88. Euroseas has a 1 year low of $26.20 and a 1 year high of $50.92. The company has a current ratio of 1.46, a quick ratio of 1.41 and a debt-to-equity ratio of 0.52. The company has a fifty day simple moving average of $43.65 and a 200 day simple moving average of $40.75.

Institutional Investors Weigh In On Euroseas

Hedge funds and other institutional investors have recently modified their holdings of the stock. Barclays PLC raised its stake in Euroseas by 67.5% during the 3rd quarter. Barclays PLC now owns 623 shares of the shipping company’s stock valued at $30,000 after purchasing an additional 251 shares during the last quarter. Beacon Capital Management LLC bought a new position in shares of Euroseas during the 1st quarter worth about $36,000. Geode Capital Management LLC acquired a new position in shares of Euroseas during the third quarter valued at about $248,000. Redhawk Wealth Advisors Inc. bought a new stake in shares of Euroseas in the second quarter valued at about $248,000. Finally, Sheaff Brock Investment Advisors LLC grew 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 worth $382,000 after buying an additional 1,560 shares in the last quarter. Institutional investors and hedge funds own 6.27% of the company’s stock.

About Euroseas

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.