Euroseas (NASDAQ:ESEA) Downgraded to “Hold” Rating by StockNews.com

Posted by Oscar Bower on Nov 13th, 2024

StockNews.com lowered shares of Euroseas (NASDAQ:ESEA – Free Report) from a buy rating to a hold rating in a research note released on Tuesday morning.

Separately, Alliance Global Partners began coverage on Euroseas in a research report on Monday, September 9th. They set a “buy” rating and a $60.00 price target on the stock.

Read Our Latest Stock Analysis on Euroseas

Euroseas Price Performance

ESEA opened at $39.92 on Tuesday. The company has a quick ratio of 1.41, a current ratio of 1.46 and a debt-to-equity ratio of 0.52. The company’s 50-day moving average price is $43.74 and its 200 day moving average price is $40.68. Euroseas has a fifty-two week low of $24.54 and a fifty-two week high of $50.92. The firm has a market cap of $279.84 million, a price-to-earnings ratio of 2.36 and a beta of 0.88.

Institutional Investors Weigh In On Euroseas

Several large investors have recently made changes to their positions in ESEA. Beacon Capital Management LLC bought a new position in Euroseas in the 1st quarter worth approximately $36,000. Redhawk Wealth Advisors Inc. bought a new position in shares of Euroseas in the second quarter worth $248,000. Lazard Asset Management LLC increased its holdings in shares of Euroseas by 3,282.3% during the first quarter. Lazard Asset Management LLC now owns 8,219 shares of the shipping company’s stock valued at $294,000 after purchasing an additional 7,976 shares during the period. Sheaff Brock Investment Advisors LLC raised its stake in shares of Euroseas by 25.0% during the third quarter. Sheaff Brock Investment Advisors LLC now owns 7,810 shares of the shipping company’s stock valued at $382,000 after purchasing an additional 1,560 shares in the last quarter. Finally, Squarepoint Ops LLC raised 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. Institutional investors and hedge funds own 6.27% of the company’s stock.

Euroseas Company Profile

(Get Free Report)

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.