Euroseas (NASDAQ:ESEA) Upgraded by StockNews.com to Buy Rating

Euroseas (NASDAQ:ESEA) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Monday.

Euroseas Stock Down 4.8 %

Euroseas stock traded down $1.71 during midday trading on Monday, reaching $33.69. The stock had a trading volume of 41,885 shares, compared to its average volume of 36,472. The stock has a market capitalization of $236.03 million, a P/E ratio of 2.08 and a beta of 0.85. The firm’s fifty day simple moving average is $33.82 and its 200-day simple moving average is $39.36. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.59 and a current ratio of 1.65. Euroseas has a 1-year low of $30.21 and a 1-year high of $50.92.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Arrowstreet Capital Limited Partnership boosted its stake in shares of Euroseas by 389.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 53,840 shares of the shipping company’s stock worth $1,949,000 after buying an additional 42,830 shares during the last quarter. Millennium Management LLC boosted its position in Euroseas by 661.4% during the fourth quarter. Millennium Management LLC now owns 40,931 shares of the shipping company’s stock valued at $1,482,000 after purchasing an additional 35,555 shares during the last quarter. Novem Group bought a new position in Euroseas in the fourth quarter valued at approximately $847,000. Marshall Wace LLP increased its position in shares of Euroseas by 71.5% during the 4th quarter. Marshall Wace LLP now owns 40,703 shares of the shipping company’s stock worth $1,473,000 after purchasing an additional 16,969 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of Euroseas by 17.0% during the 4th quarter. Renaissance Technologies LLC now owns 115,078 shares of the shipping company’s stock worth $4,166,000 after purchasing an additional 16,700 shares in the last quarter. 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.