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

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

Separately, Alliance Global Partners started coverage on shares of Euroseas in a research report on Monday, September 9th. They issued a “buy” rating and a $60.00 target price for the company.

Euroseas Trading Up 2.5 %

NASDAQ:ESEA opened at $42.77 on Tuesday. The stock has a market cap of $299.82 million, a PE ratio of 2.53 and a beta of 0.88. Euroseas has a fifty-two week low of $26.20 and a fifty-two week high of $50.92. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.46 and a quick ratio of 1.41. The stock’s 50-day moving average is $43.65 and its two-hundred day moving average is $40.75.

Institutional Investors Weigh In On Euroseas

Institutional investors have recently made changes to their positions in the company. Acadian Asset Management LLC raised its position in Euroseas by 49.6% during the first quarter. Acadian Asset Management LLC now owns 71,763 shares of the shipping company’s stock valued at $2,570,000 after acquiring an additional 23,796 shares in the last quarter. Inspire Investing LLC bought a new position in shares of Euroseas during the 3rd quarter valued at $913,000. Lazard Asset Management LLC raised its holdings in shares of Euroseas by 3,282.3% during the 1st 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 in the last quarter. Redhawk Wealth Advisors Inc. acquired a new stake in shares of Euroseas in the 2nd quarter valued at $248,000. Finally, Geode Capital Management LLC bought a new stake in Euroseas in the third quarter worth $248,000. 6.27% of the stock is currently owned by institutional investors and hedge funds.

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.