Euroseas (ESEA) Reaches New 52-Week Low at $1.00

Euroseas Ltd. (NASDAQ:ESEA)’s share price reached a new 52-week low during trading on Tuesday . The company traded as low as $1.00 and last traded at $1.06, with a volume of 17158 shares traded. The stock had previously closed at $1.18.

A number of equities analysts recently commented on the company. Maxim Group reiterated a “buy” rating and issued a $3.00 price target on shares of Euroseas in a research note on Monday, August 13th. Noble Financial assumed coverage on Euroseas in a research note on Friday, September 21st. They issued an “outperform” rating for the company. Finally, Zacks Investment Research downgraded Euroseas from a “hold” rating to a “strong sell” rating in a research note on Wednesday.

The company has a market capitalization of $12.74 million, a P/E ratio of -2.82 and a beta of 0.49. The company has a quick ratio of 0.49, a current ratio of 0.67 and a debt-to-equity ratio of 9.79.

Euroseas (NASDAQ:ESEA) last posted its quarterly earnings results on Thursday, November 15th. The shipping company reported ($0.10) EPS for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.14). The firm had revenue of $8.35 million during the quarter, compared to analyst estimates of $8.32 million. Euroseas had a negative return on equity of 8.84% and a net margin of 3.76%. Research analysts expect that Euroseas Ltd. will post -0.1 EPS for the current fiscal year.

An institutional investor recently raised its position in Euroseas stock. Renaissance Technologies LLC increased its position in Euroseas Ltd. (NASDAQ:ESEA) by 98.2% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 88,395 shares of the shipping company’s stock after purchasing an additional 43,800 shares during the period. Renaissance Technologies LLC owned 0.78% of Euroseas worth $155,000 at the end of the most recent reporting period. 2.38% of the stock is owned by hedge funds and other institutional investors.

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About Euroseas (NASDAQ:ESEA)

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; and drybulk carriers that transport iron ore, coal, grains, bauxite, phosphate, and fertilizers.

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