Euroseas (NASDAQ:ESEA) Now Covered by StockNews.com

Investment analysts at StockNews.com assumed coverage on shares of Euroseas (NASDAQ:ESEA) in a note issued to investors on Saturday. The firm set a “buy” rating on the shipping company’s stock.

Euroseas Stock Performance

Euroseas stock opened at $30.76 on Friday. The firm’s 50 day simple moving average is $32.90 and its 200 day simple moving average is $38.08. The firm has a market capitalization of $215.50 million, a PE ratio of 1.90 and a beta of 0.72. Euroseas has a 1-year low of $28.36 and a 1-year high of $50.92. The company has a current ratio of 1.65, a quick ratio of 1.59 and a debt-to-equity ratio of 0.53.

Institutional Investors Weigh In On Euroseas

Several institutional investors have recently added to or reduced their stakes in ESEA. Geode Capital Management LLC bought a new position in shares of Euroseas in the 3rd quarter worth about $248,000. Retireful LLC bought a new stake in Euroseas during the 4th quarter valued at about $222,000. Exchange Traded Concepts LLC purchased a new stake in shares of Euroseas during the 4th quarter valued at about $306,000. Sheaff Brock Investment Advisors LLC boosted its holdings in shares of Euroseas by 46.1% during the 4th quarter. Sheaff Brock Investment Advisors LLC now owns 11,410 shares of the shipping company’s stock valued at $413,000 after acquiring an additional 3,600 shares during the last quarter. Finally, Novem Group purchased a new position in shares of Euroseas in the fourth quarter worth approximately $847,000. Hedge funds and other institutional investors 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.