Short Interest in Euroseas Ltd. (NASDAQ:ESEA) Increases By 68.1%

Euroseas Ltd. (NASDAQ:ESEA) was the recipient of a large increase in short interest in the month of April. As of April 15th, there was short interest totalling 7,900 shares, an increase of 68.1% from the March 31st total of 4,700 shares. Based on an average daily volume of 42,500 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.3% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Euroseas from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 20th.

Euroseas Price Performance

Shares of ESEA stock opened at $33.91 on Monday. The stock has a 50 day moving average of $35.59 and a two-hundred day moving average of $32.89. The company has a current ratio of 1.29, a quick ratio of 1.24 and a debt-to-equity ratio of 0.37. Euroseas has a 12 month low of $18.05 and a 12 month high of $42.29. The company has a market capitalization of $237.71 million, a P/E ratio of 2.06 and a beta of 0.86.

Euroseas (NASDAQ:ESEA) last announced its quarterly earnings data on Wednesday, February 21st. The shipping company reported $3.61 EPS for the quarter, missing analysts’ consensus estimates of $3.85 by ($0.24). Euroseas had a return on equity of 45.15% and a net margin of 60.50%. The firm had revenue of $50.69 million during the quarter, compared to the consensus estimate of $50.97 million. As a group, equities analysts expect that Euroseas will post 11.64 EPS for the current year.

Euroseas Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 8th were given a $0.60 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 7.08%. This is an increase from Euroseas’s previous quarterly dividend of $0.50. Euroseas’s dividend payout ratio (DPR) is currently 14.58%.

Institutional Trading of Euroseas

A number of hedge funds have recently modified their holdings of the company. CHURCHILL MANAGEMENT Corp acquired a new position in shares of Euroseas in the 1st quarter worth approximately $1,300,000. Quadrature Capital Ltd raised its holdings in shares of Euroseas by 51.4% in the 4th quarter. Quadrature Capital Ltd now owns 46,007 shares of the shipping company’s stock worth $1,434,000 after buying an additional 15,618 shares in the last quarter. Tucker Asset Management LLC acquired a new position in shares of Euroseas in the 4th quarter worth approximately $86,000. Virtu Financial LLC acquired a new position in shares of Euroseas in the 4th quarter worth approximately $350,000. Finally, Janney Montgomery Scott LLC acquired a new position in shares of Euroseas in the 4th quarter worth approximately $447,000. Institutional investors own 6.27% of the company’s stock.

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 May 02, 2023, it had a fleet of 18 vessels, including 11 feeder and 7 intermediate containerships with a cargo capacity of approximately 56, 061 twenty-foot equivalent unit.