Euroseas Ltd. (NASDAQ:ESEA) shares shot up 30.3% during mid-day trading on Friday . The company traded as high as $2.45 and last traded at $2.41, with a volume of 129,834 shares traded. The stock had previously closed at $1.85.

Separately, Zacks Investment Research upgraded shares of Euroseas from a “hold” rating to a “buy” rating and set a $2.25 target price on the stock in a research report on Tuesday, June 14th.

The firm has a 50 day moving average price of $1.99 and a 200 day moving average price of $2.09. The stock’s market capitalization is $19.81 million.

Euroseas (NASDAQ:ESEA) last released its quarterly earnings results on Tuesday, May 24th. The company reported ($0.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by $0.13. On average, analysts forecast that Euroseas Ltd. will post ($0.87) earnings per share 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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