Euroseas Ltd. (NASDAQ:ESEA)’s share price fell 9.2% during mid-day trading on Friday . The company traded as low as $1.90 and last traded at $1.97. 561,651 shares were traded during trading, an increase of 182% from the average session volume of 198,978 shares. The stock had previously closed at $2.17.
A number of research firms have issued reports on ESEA. Maxim Group started coverage on Euroseas in a report on Monday, August 21st. They set a “buy” rating and a $2.50 price target on the stock. Zacks Investment Research cut Euroseas from a “hold” rating to a “sell” rating in a report on Friday, September 22nd. Finally, ValuEngine upgraded Euroseas from a “strong sell” rating to a “sell” rating in a report on Saturday, August 26th.
The company has a quick ratio of 0.70, a current ratio of 0.78 and a debt-to-equity ratio of 1.01.
Euroseas (NASDAQ:ESEA) last issued its earnings results on Wednesday, August 9th. The shipping company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.10). Euroseas had a negative return on equity of 17.55% and a negative net margin of 77.39%. The firm had revenue of $10.01 million during the quarter. analysts anticipate that Euroseas Ltd. will post -0.65 EPS for the current fiscal year.
A hedge fund recently bought a new stake in Euroseas stock. WealthTrust Axiom LLC purchased a new stake in Euroseas Ltd. (NASDAQ:ESEA) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 66,700 shares of the shipping company’s stock, valued at approximately $111,000. WealthTrust Axiom LLC owned about 0.60% of Euroseas at the end of the most recent quarter. 1.65% of the stock is owned by hedge funds and other institutional investors.
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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