Euroseas Ltd. (NASDAQ:ESEA)’s share price dropped 17.5% during trading on Wednesday . The company traded as low as $2.31 and last traded at $2.31, with a volume of 203,985 shares. The stock had previously closed at $2.80.

Separately, Zacks Investment Research upgraded shares of Euroseas from a “hold” rating to a “buy” rating and set a $2.25 price target on the stock in a report on Tuesday, June 21st.

The stock’s market cap is $19.79 million. The stock’s 50-day moving average is $2.04 and its 200-day moving average is $2.09.

Euroseas (NASDAQ:ESEA) last posted its earnings results on Tuesday, May 24th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.25) by $0.13. Equities research analysts expect that Euroseas Ltd. will post ($0.87) EPS for the current year.

Euroseas Ltd. is engaged in the shipping business. The Company is an owner and operator of drybulk and container carrier vessels and is a provider of seaborne transportation for drybulk and containerized cargoes. Eurobulk Ltd. manages the Company’s operations. The Company also owns and operates dry bulk carriers that transport major bulks, such as iron ore, coal and grains, and minor bulks, such as bauxite, phosphate and fertilizers.

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