Euroseas Ltd. (NASDAQ:ESEA) Short Interest Up 104.0% in February

Euroseas Ltd. (NASDAQ:ESEA) was the target of a significant increase in short interest in the month of February. As of February 15th, there was short interest totalling 20,400 shares, an increase of 104.0% from the January 31st total of 10,000 shares. Currently, 0.7% of the shares of the company are short sold. Based on an average trading volume of 42,100 shares, the days-to-cover ratio is presently 0.5 days.

Institutional Trading of Euroseas

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Barclays PLC grew its position in Euroseas by 67.5% during the third quarter. Barclays PLC now owns 623 shares of the shipping company’s stock worth $30,000 after buying an additional 251 shares during the period. Bank of America Corp DE boosted its stake in shares of Euroseas by 1,611.0% during the 4th quarter. Bank of America Corp DE now owns 1,865 shares of the shipping company’s stock worth $68,000 after acquiring an additional 1,756 shares in the last quarter. Geode Capital Management LLC acquired a new stake in shares of Euroseas in the 3rd quarter worth approximately $248,000. Retireful LLC purchased a new position in Euroseas in the 4th quarter valued at approximately $222,000. Finally, Sheaff Brock Investment Advisors LLC increased its stake in Euroseas by 25.0% in the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 7,810 shares of the shipping company’s stock valued at $382,000 after purchasing an additional 1,560 shares in the last quarter. Institutional investors and hedge funds own 6.27% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Euroseas from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th.

Euroseas Price Performance

ESEA stock traded up $1.82 on Friday, reaching $35.40. 50,185 shares of the company’s stock were exchanged, compared to its average volume of 36,335. Euroseas has a twelve month low of $30.21 and a twelve month high of $50.92. The company has a quick ratio of 1.59, a current ratio of 1.65 and a debt-to-equity ratio of 0.53. The stock has a fifty day moving average of $33.82 and a 200-day moving average of $39.43. The firm has a market cap of $248.01 million, a PE ratio of 2.18 and a beta of 0.85.

Euroseas Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 11th will be paid a dividend of $0.65 per share. The ex-dividend date is Tuesday, March 11th. This is a boost from Euroseas’s previous quarterly dividend of $0.60. This represents a $2.60 dividend on an annualized basis and a dividend yield of 7.34%. Euroseas’s dividend payout ratio is 14.80%.

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.