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

Separately, Zacks Investment Research downgraded Euroseas from a “buy” rating to a “hold” rating in a research note on Tuesday, July 26th.

The company’s 50 day moving average is $2.02 and its 200 day moving average is $2.09. The stock’s market capitalization is $19.40 million.

Euroseas (NASDAQ:ESEA) last posted its quarterly earnings results on Tuesday, May 24th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by $0.13. Analysts anticipate 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.