StockNews.com Begins Coverage on Euroseas (NASDAQ:ESEA)

Analysts at StockNews.com initiated coverage on shares of Euroseas (NASDAQ:ESEA) in a report released on Monday. The brokerage set a “buy” rating on the shipping company’s stock.

Euroseas Stock Performance

Euroseas stock opened at $38.74 on Monday. The company has a market capitalization of $271.57 million, a PE ratio of 2.39 and a beta of 0.75. The company has a 50 day moving average price of $31.30 and a 200-day moving average price of $34.43. 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 fifty-two week low of $26.30 and a fifty-two week high of $50.92.

Hedge Funds Weigh In On Euroseas

Several institutional investors have recently bought and sold shares of the business. Boston Partners increased its holdings in Euroseas by 37.5% during the first quarter. Boston Partners now owns 17,045 shares of the shipping company’s stock valued at $522,000 after buying an additional 4,647 shares during the period. Novem Group purchased a new position in Euroseas during the fourth quarter valued at approximately $847,000. Millennium Management LLC increased its holdings 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 buying an additional 35,555 shares during the period. Lazard Asset Management LLC increased its holdings in Euroseas by 30.9% during the fourth quarter. Lazard Asset Management LLC now owns 30,165 shares of the shipping company’s stock valued at $1,091,000 after buying an additional 7,127 shares during the period. Finally, Cubist Systematic Strategies LLC increased its holdings in Euroseas by 4.6% during the fourth quarter. Cubist Systematic Strategies LLC now owns 10,813 shares of the shipping company’s stock valued at $391,000 after buying an additional 471 shares during the period. 6.27% of the stock is owned by hedge funds and other institutional investors.

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 March 31, 2024, it had a fleet of 20 containerships with a cargo carrying capacity of approximately 777,749 dwt.