Euroseas Ltd. (NASDAQ:ESEA) Sees Significant Growth in Short Interest

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Barclays PLC lifted its holdings in Euroseas by 67.5% in the third quarter. Barclays PLC now owns 623 shares of the shipping company’s stock valued at $30,000 after acquiring an additional 251 shares during the last quarter. Geode Capital Management LLC acquired a new position in shares of Euroseas in the 3rd quarter valued at $248,000. Sheaff Brock Investment Advisors LLC lifted its stake in shares of Euroseas by 25.0% in the 3rd 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 last quarter. BayBridge Capital Group LLC grew its holdings in shares of Euroseas by 8.7% during the 3rd quarter. BayBridge Capital Group LLC now owns 13,244 shares of the shipping company’s stock worth $647,000 after purchasing an additional 1,057 shares during the period. Finally, Redhawk Wealth Advisors Inc. increased its position in shares of Euroseas by 6.8% during the 3rd 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. Institutional investors and hedge funds own 6.27% of the company’s stock.

Analyst Ratings Changes

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

Euroseas Price Performance

ESEA traded down $0.86 during trading on Monday, reaching $33.87. The company’s stock had a trading volume of 51,167 shares, compared to its average volume of 41,543. The company has a quick ratio of 1.59, a current ratio of 1.65 and a debt-to-equity ratio of 0.53. The firm has a fifty day simple moving average of $39.14 and a two-hundred day simple moving average of $40.82. The company has a market cap of $237.29 million, a price-to-earnings ratio of 2.09 and a beta of 0.88. Euroseas has a 1 year low of $31.14 and a 1 year high of $50.92.

Euroseas Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 17th. Shareholders of record on Monday, December 9th were paid 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 (DPR) is presently 14.80%.

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.