Euroseas (NASDAQ:ESEA) Trading Up 10.1%

Euroseas Ltd. (NASDAQ:ESEA) shares traded up 10.1% during trading on Thursday . The company traded as high as $2.83 and last traded at $2.72. 245,630 shares traded hands during mid-day trading, an increase of 30% from the average session volume of 188,999 shares. The stock had previously closed at $2.47.

Several equities research analysts have issued reports on ESEA shares. Zacks Investment Research upgraded Euroseas from a “hold” rating to a “buy” rating and set a $3.00 price objective on the stock in a report on Friday, August 21st. Noble Financial restated a “buy” rating and issued a $6.35 price target on shares of Euroseas in a research note on Tuesday, September 22nd.

The company has a market capitalization of $13.83 million, a price-to-earnings ratio of 10.12 and a beta of 0.68. The stock’s fifty day simple moving average is $2.37 and its two-hundred day simple moving average is $2.42. The company has a debt-to-equity ratio of 2.83, a current ratio of 0.60 and a quick ratio of 0.53.

Euroseas (NASDAQ:ESEA) last posted its quarterly earnings results on Tuesday, August 11th. The shipping company reported $0.25 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.18. Euroseas had a net margin of 4.37% and a return on equity of 1.96%. On average, sell-side analysts predict that Euroseas Ltd. will post 0.23 EPS for the current year.

About Euroseas (NASDAQ:ESEA)

Euroseas Ltd. provides ocean-going transportation services worldwide. The company owns and operates containerships that transport dry and refrigerated containerized cargoes, including manufactured products and perishables; and drybulk carriers that transport iron ore, coal, grains, bauxite, phosphate, and fertilizers.

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