Short Interest in Euroseas Ltd. (NASDAQ:ESEA) Decreases By 22.0%

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Euroseas Ltd. (NASDAQ:ESEA) was the recipient of a large drop in short interest during the month of September. As of September 30th, there was short interest totalling 44,300 shares, a drop of 22.0% from the September 15th total of 56,800 shares. Approximately 2.8% of the company’s shares are sold short. Based on an average trading volume of 255,700 shares, the days-to-cover ratio is currently 0.2 days.

NASDAQ:ESEA traded up $0.12 during trading hours on Friday, hitting $3.22. 77,063 shares of the company were exchanged, compared to its average volume of 190,265. The stock has a market capitalization of $18.02 million, a price-to-earnings ratio of 12.39 and a beta of 0.63. Euroseas has a 52-week low of $1.23 and a 52-week high of $6.24. The company has a debt-to-equity ratio of 2.83, a current ratio of 0.60 and a quick ratio of 0.53. The company’s 50 day moving average price is $2.46 and its 200-day moving average price is $2.48.

Euroseas (NASDAQ:ESEA) last released its earnings results on Tuesday, August 11th. The shipping company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.18. The company had revenue of $14.14 million for the quarter, compared to the consensus estimate of $14.91 million. Euroseas had a net margin of 4.37% and a return on equity of 1.96%. On average, equities analysts predict that Euroseas will post 0.25 earnings per share for the current year.

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

Euroseas Company Profile

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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