Euroseas (NASDAQ:ESEA) Upgraded by Zacks Research to Strong-Buy Rating

Euroseas (NASDAQ:ESEAGet Free Report) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Tuesday,Zacks.com reports.

Several other analysts have also recently commented on the stock. Alliance Global Partners reissued a “buy” rating on shares of Euroseas in a research note on Monday, April 20th. Wall Street Zen raised Euroseas from a “hold” rating to a “buy” rating in a report on Monday, June 1st. Finally, Weiss Ratings lowered Euroseas from a “buy (b)” rating to a “hold (c)” rating in a research report on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Euroseas presently has a consensus rating of “Buy”.

Read Our Latest Research Report on Euroseas

Euroseas Stock Up 0.1%

Shares of NASDAQ ESEA opened at $66.43 on Tuesday. Euroseas has a 12-month low of $45.79 and a 12-month high of $78.76. The firm’s 50-day simple moving average is $68.57 and its 200 day simple moving average is $63.30. The company has a quick ratio of 5.38, a current ratio of 5.46 and a debt-to-equity ratio of 0.39. The company has a market cap of $469.00 million, a price-to-earnings ratio of 3.50 and a beta of 0.45.

Euroseas (NASDAQ:ESEAGet Free Report) last posted its quarterly earnings data on Thursday, May 21st. The shipping company reported $4.70 earnings per share for the quarter, beating the consensus estimate of $4.26 by $0.44. Euroseas had a net margin of 58.31% and a return on equity of 27.55%. The firm had revenue of $55.84 million during the quarter, compared to analysts’ expectations of $56.61 million. On average, research analysts expect that Euroseas will post 18.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Euroseas

Several institutional investors have recently modified their holdings of the business. Renaissance Technologies LLC raised its stake in shares of Euroseas by 4.2% during the first quarter. Renaissance Technologies LLC now owns 100,765 shares of the shipping company’s stock worth $6,736,000 after buying an additional 4,087 shares during the last quarter. State of Wyoming bought a new position in Euroseas in the first quarter valued at approximately $323,000. Inspire Investing LLC bought a new position in Euroseas in the first quarter valued at approximately $1,591,000. State of Tennessee Department of Treasury acquired a new stake in Euroseas during the 4th quarter worth $404,000. Finally, Millennium Management LLC raised its position in shares of Euroseas by 171.7% during the 4th quarter. Millennium Management LLC now owns 53,386 shares of the shipping company’s stock valued at $2,915,000 after acquiring an additional 33,738 shares during the last quarter. Institutional investors and hedge funds own 6.27% of the company’s stock.

About Euroseas

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Euroseas Ltd. (NASDAQ: ESEA) is an international shipping company specializing in seaborne transportation of containerized and drybulk cargoes. Incorporated in Bermuda with its principal operations and management office based in Athens, Greece, the company owns and charters a diversified fleet of containerships, drybulk carriers and multipurpose vessels. Euroseas provides tailored shipping solutions on time-charter and voyage-charter agreements, serving manufacturers, commodity traders and logistics providers across major trade routes.

Euroseas’s fleet comprises both owned and chartered tonnage, enabling the company to adjust capacity to market conditions and customer requirements.

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