Euroseas (NASDAQ:ESEA) Stock Price Crosses Above 200 Day Moving Average – Should You Sell?

Euroseas Ltd. (NASDAQ:ESEA)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $40.31 and traded as high as $41.91. Euroseas shares last traded at $40.62, with a volume of 23,342 shares traded.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Alliance Global Partners initiated coverage on shares of Euroseas in a report on Monday, September 9th. They issued a “buy” rating and a $60.00 target price on the stock. StockNews.com raised Euroseas from a “hold” rating to a “buy” rating in a report on Saturday, October 12th. Finally, Noble Financial raised Euroseas to a “strong-buy” rating in a report on Wednesday, July 10th.

Euroseas Stock Performance

The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.41 and a current ratio of 1.46. The company has a market capitalization of $284.75 million, a P/E ratio of 2.40 and a beta of 0.88. The stock’s fifty day moving average price is $44.26 and its 200-day moving average price is $40.31.

Euroseas (NASDAQ:ESEA) last released its earnings results on Tuesday, August 6th. The shipping company reported $4.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.49 by $2.43. The firm had revenue of $60.29 million for the quarter, compared to analysts’ expectations of $49.33 million. Euroseas had a return on equity of 38.07% and a net margin of 57.36%. As a group, research analysts anticipate that Euroseas Ltd. will post 15.06 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ESEA. BayBridge Capital Group LLC boosted its position in shares of Euroseas by 8.7% in the third quarter. BayBridge Capital Group LLC now owns 13,244 shares of the shipping company’s stock valued at $647,000 after acquiring an additional 1,057 shares during the period. Redhawk Wealth Advisors Inc. increased its position 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 valued at $371,000 after buying an additional 485 shares during the period. Inspire Investing LLC purchased a new stake in Euroseas in the third quarter worth $913,000. Squarepoint Ops LLC increased its stake in shares of Euroseas by 42.5% during 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 in the last quarter. Finally, Renaissance Technologies LLC increased its stake in Euroseas by 3.0% during the 2nd quarter. Renaissance Technologies LLC now owns 97,478 shares of the shipping company’s stock valued at $3,403,000 after purchasing an additional 2,877 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.