Euroseas Ltd. (ESEA) Downgraded by ValuEngine
ValuEngine downgraded shares of Euroseas Ltd. (NASDAQ:ESEA) from a sell rating to a strong sell rating in a research report sent to investors on Friday morning.
Separately, Zacks Investment Research upgraded Euroseas from a hold rating to a buy rating and set a $1.50 price target on the stock in a research note on Friday, February 24th.
Shares of Euroseas (NASDAQ:ESEA) traded down 0.78% on Friday, hitting $1.27. The stock had a trading volume of 17,285 shares. The stock’s market cap is $14.19 million. Euroseas has a 1-year low of $1.04 and a 1-year high of $8.07. The firm’s 50-day moving average is $1.32 and its 200 day moving average is $1.60.
Euroseas (NASDAQ:ESEA) last issued its quarterly earnings results on Friday, May 12th. The shipping company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by $0.14. Euroseas had a negative net margin of 26.41% and a negative return on equity of 12.11%. The firm had revenue of $8.29 million for the quarter. Equities analysts forecast that Euroseas will post ($0.48) EPS for the current year.
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A hedge fund recently raised its stake in Euroseas stock. Renaissance Technologies LLC increased its stake in shares of Euroseas Ltd. (NASDAQ:ESEA) by 28.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 198,670 shares of the shipping company’s stock after buying an additional 43,800 shares during the period. Renaissance Technologies LLC owned approximately 2.42% of Euroseas worth $336,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 13.42% of the company’s stock.
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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