Euroseas (NASDAQ:ESEA) Raised to “Buy” at StockNews.com

Euroseas (NASDAQ:ESEA) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Monday.

Euroseas Trading Down 4.8 %

NASDAQ ESEA traded down $1.71 during trading hours on Monday, hitting $33.69. The company’s stock had a trading volume of 41,885 shares, compared to its average volume of 36,472. The stock has a fifty day moving average of $33.82 and a 200 day moving average of $39.36. The company has a quick ratio of 1.59, a current ratio of 1.65 and a debt-to-equity ratio of 0.53. Euroseas has a twelve month low of $30.21 and a twelve month high of $50.92. The firm has a market capitalization of $236.03 million, a P/E ratio of 2.08 and a beta of 0.85.

Institutional Trading of Euroseas

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Novem Group acquired a new position in Euroseas during the fourth quarter valued at approximately $847,000. Millennium Management LLC grew its holdings in shares of Euroseas by 661.4% in the 4th quarter. Millennium Management LLC now owns 40,931 shares of the shipping company’s stock valued at $1,482,000 after buying an additional 35,555 shares during the period. Lazard Asset Management LLC increased its position in shares of Euroseas by 30.9% in the 4th quarter. Lazard Asset Management LLC now owns 30,165 shares of the shipping company’s stock valued at $1,091,000 after buying an additional 7,127 shares in the last quarter. Cubist Systematic Strategies LLC raised its stake in Euroseas by 4.6% during the 4th quarter. Cubist Systematic Strategies LLC now owns 10,813 shares of the shipping company’s stock worth $391,000 after buying an additional 471 shares during the period. Finally, Bank of America Corp DE lifted its holdings in Euroseas by 1,611.0% during the fourth quarter. Bank of America Corp DE now owns 1,865 shares of the shipping company’s stock worth $68,000 after acquiring an additional 1,756 shares in the last quarter. 6.27% of the stock is owned by institutional investors.

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.