Euroseas (NASDAQ:ESEA) Shares Pass Above 200 Day Moving Average – Time to Sell?

Euroseas Ltd. (NASDAQ:ESEA)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $68.59 and traded as high as $78.47. Euroseas shares last traded at $74.43, with a volume of 34,613 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ESEA. Weiss Ratings raised Euroseas from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, August 14th. Wall Street Zen raised Euroseas from a “hold” rating to a “buy” rating in a research report on Monday, June 1st. Finally, Zacks Research cut shares of Euroseas from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 29th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Euroseas Trading Up 0.1%

The stock has a market cap of $540.09 million, a PE ratio of 3.94 and a beta of 0.45. The company has a quick ratio of 5.38, a current ratio of 5.46 and a debt-to-equity ratio of 0.36. The stock’s fifty day moving average price is $72.58 and its 200 day moving average price is $68.75.

Euroseas (NASDAQ:ESEA) last announced its quarterly earnings data on Thursday, August 13th. The shipping company reported $4.70 earnings per share for the quarter, topping analysts’ consensus estimates of $4.09 by $0.61. The company had revenue of $56.50 million during the quarter, compared to analyst estimates of $55.98 million. Euroseas had a net margin of 59.98% and a return on equity of 26.58%. On average, sell-side analysts forecast that Euroseas Ltd. will post 18.03 EPS for the current year.

Euroseas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Wednesday, September 9th will be issued a $0.80 dividend. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 4.2%. Euroseas’s dividend payout ratio (DPR) is presently 16.47%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ESEA. Raymond James Financial Inc. boosted its position in shares of Euroseas by 1.3% during the third quarter. Raymond James Financial Inc. now owns 19,716 shares of the shipping company’s stock valued at $1,175,000 after buying an additional 260 shares during the last quarter. Russell Investments Group Ltd. purchased a new position in Euroseas in the 4th quarter worth about $34,000. Bank of America Corp DE lifted its stake in Euroseas by 387.8% during the 2nd quarter. Bank of America Corp DE now owns 1,117 shares of the shipping company’s stock valued at $50,000 after acquiring an additional 888 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in Euroseas by 540.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,280 shares of the shipping company’s stock valued at $76,000 after acquiring an additional 1,080 shares during the period. Finally, Redhawk Wealth Advisors Inc. boosted its holdings in shares of Euroseas by 36.2% during the 2nd 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 during the last quarter. 6.27% of the stock is owned by institutional investors.

About Euroseas

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.