Redhawk Wealth Advisors Inc. Has $371,000 Holdings in Euroseas Ltd. (NASDAQ:ESEA)

Redhawk Wealth Advisors Inc. boosted its position in shares of Euroseas Ltd. (NASDAQ:ESEA) by 6.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,593 shares of the shipping company’s stock after purchasing an additional 485 shares during the period. Redhawk Wealth Advisors Inc. owned about 0.11% of Euroseas worth $371,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of ESEA. CHURCHILL MANAGEMENT Corp bought a new position in shares of Euroseas during the first quarter worth about $1,300,000. Acadian Asset Management LLC increased its holdings in Euroseas by 49.6% during the first quarter. Acadian Asset Management LLC now owns 71,763 shares of the shipping company’s stock worth $2,570,000 after buying an additional 23,796 shares during the last quarter. Lazard Asset Management LLC raised its position in Euroseas by 3,282.3% during the first quarter. Lazard Asset Management LLC now owns 8,219 shares of the shipping company’s stock worth $294,000 after acquiring an additional 7,976 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of Euroseas by 3.0% in the 2nd quarter. Renaissance Technologies LLC now owns 97,478 shares of the shipping company’s stock valued at $3,403,000 after acquiring an additional 2,877 shares during the period. Finally, Janney Montgomery Scott LLC increased its stake in shares of Euroseas by 18.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 17,053 shares of the shipping company’s stock worth $611,000 after purchasing an additional 2,693 shares during the last quarter. Institutional investors and hedge funds own 6.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. StockNews.com upgraded Euroseas from a “hold” rating to a “buy” rating in a report on Saturday. Alliance Global Partners started coverage on shares of Euroseas in a research report on Monday, September 9th. They issued a “buy” rating and a $60.00 price objective on the stock. Finally, Noble Financial raised shares of Euroseas to a “strong-buy” rating in a report on Wednesday, July 10th.

Euroseas Trading Down 0.4 %

Shares of ESEA stock opened at $43.13 on Tuesday. The stock has a market cap of $302.17 million, a P/E ratio of 2.83 and a beta of 0.85. Euroseas Ltd. has a 1 year low of $22.50 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 stock has a 50 day simple moving average of $44.84 and a 200 day simple moving average of $39.68.

Euroseas (NASDAQ:ESEA) last posted its quarterly earnings results on Tuesday, August 6th. The shipping company reported $4.92 EPS for the quarter, beating analysts’ consensus estimates of $2.49 by $2.43. The business had revenue of $60.29 million during the quarter, compared to the consensus estimate of $49.33 million. Euroseas had a return on equity of 38.07% and a net margin of 57.36%. On average, research analysts predict that Euroseas Ltd. will post 14.99 earnings per share for the current fiscal year.

Euroseas Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Monday, September 9th were paid a $0.60 dividend. The ex-dividend date was Monday, September 9th. This represents a $2.40 dividend on an annualized basis and a yield of 5.56%. Euroseas’s dividend payout ratio (DPR) is 15.76%.

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.