Euroseas (NASDAQ:ESEA) Downgraded by Wall Street Zen to “Hold”

Wall Street Zen lowered shares of Euroseas (NASDAQ:ESEA) from a buy rating to a hold rating in a research report report published on Saturday morning,Wall Street Zen reports.

A number of other research analysts have also recently commented on the company. Weiss Ratings raised Euroseas from a “hold (c)” rating to a “buy (b-)” rating in a research note on Friday, October 16th. Zacks Research downgraded Euroseas from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 21st. Finally, Freedom Broker started coverage on Euroseas in a research note on Tuesday, September 29th. They set a “buy” rating and a $93.00 price target for the company. Three investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $93.00.

Euroseas Trading Down 0.1%

NASDAQ:ESEA traded down $0.10 during midday trading on Friday, hitting $66.95. 11,798 shares of the company traded hands, compared to its average volume of 29,902. The firm has a market capitalization of $472.67 million, a P/E ratio of 3.45 and a beta of 0.70. The firm’s fifty day moving average is $69.88 and its 200-day moving average is $68.80. Euroseas has a 12-month low of $51.00 and a 12-month high of $79.67. The company has a current ratio of 5.46, a quick ratio of 5.38 and a debt-to-equity ratio of 0.36.

Euroseas (NASDAQ:ESEA) last posted its quarterly earnings data on Thursday, August 13th. The shipping company reported $4.70 earnings per share for the quarter, beating analysts’ consensus estimates of $4.09 by $0.61. Euroseas had a net margin of 59.98% and a return on equity of 26.58%. The business had revenue of $56.50 million for the quarter, compared to analysts’ expectations of $55.98 million. On average, sell-side analysts predict that Euroseas will post 15.87 EPS for the current year.

Insider Transactions at Euroseas

In other news, Director Panagiotis Kyriakopoulos sold 1,400 shares of Euroseas stock in a transaction that occurred on Monday, October 26th. The shares were sold at an average price of $66.60, for a total transaction of $93,240.00. Following the completion of the sale, the director owned 13,100 shares of the company’s stock, valued at approximately $872,460. The trade was a 9.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Symeon Pariaros sold 950 shares of Euroseas stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $79.00, for a total transaction of $75,050.00. Following the sale, the insider directly owned 1,900 shares of the company’s stock, valued at $150,100. This represents a 33.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 55.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. State of Wyoming bought a new position in shares of Euroseas during the 3rd quarter worth $270,000. Redhawk Wealth Advisors Inc. raised its holdings in shares of Euroseas by 36.2% in the second quarter. Redhawk Wealth Advisors Inc. now owns 4,149 shares of the shipping company’s stock valued at $275,000 after acquiring an additional 1,102 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in Euroseas in the second quarter worth about $423,000. WINTON GROUP Ltd lifted its stake in Euroseas by 33.1% in the second quarter. WINTON GROUP Ltd now owns 8,036 shares of the shipping company’s stock worth $533,000 after acquiring an additional 1,998 shares during the period. Finally, Navellier & Associates Inc. lifted its stake in Euroseas by 94.8% in the second quarter. Navellier & Associates Inc. now owns 15,562 shares of the shipping company’s stock worth $1,033,000 after acquiring an additional 7,575 shares during the period. 6.27% of the stock is currently owned by hedge funds and other institutional investors.

About Euroseas

Euroseas Ltd. is an international shipping company that owns and operates container vessels and drybulk carriers. It provides seaborne transportation services by chartering its vessels to customers moving goods and commodities around the world. Founded in 2005, the company is based in Athens, Greece. Its operations serve international shipping markets, with vessels carrying cargo on routes across multiple regions. Euroseas is led by Chairman and Chief Executive Officer Aristides Pittas, a shipping executive who has been associated with the company since its founding.