Aristeidis Pittas Sells 500 Shares of EuroDry (NASDAQ:EDRY) Stock

EuroDry (NASDAQ:EDRY) Director Aristeidis Pittas sold 500 shares of EuroDry stock in a transaction on Friday, August 21st. The stock was sold at an average price of $44.56, for a total value of $22,280.00. Following the transaction, the director directly owned 75,913 shares of the company’s stock, valued at approximately $3,382,683.28. This represents a 0.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

EuroDry Price Performance

NASDAQ EDRY traded up $0.89 during trading hours on Tuesday, reaching $52.62. The company’s stock had a trading volume of 189,028 shares, compared to its average volume of 46,263. EuroDry has a fifty-two week low of $10.62 and a fifty-two week high of $53.50. The stock has a market cap of $152.06 million, a PE ratio of 15.90 and a beta of 0.68. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.23 and a current ratio of 1.28. The company’s 50-day moving average is $27.71 and its two-hundred day moving average is $22.75.

EuroDry (NASDAQ:EDRY) last posted its earnings results on Thursday, August 6th. The company reported $2.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $1.21. The firm had revenue of $17.70 million for the quarter, compared to analyst estimates of $17.86 million. EuroDry had a return on equity of 8.77% and a net margin of 15.02%. Analysts forecast that EuroDry will post 5.77 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on EDRY shares. Weiss Ratings reissued a “sell (d-)” rating on shares of EuroDry in a research report on Friday. Wall Street Zen upgraded EuroDry from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 3rd. Zacks Research raised shares of EuroDry from a “hold” rating to a “strong-buy” rating in a report on Friday, July 10th. Finally, Alliance Global Partners reaffirmed a “buy” rating on shares of EuroDry in a research report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $23.50.

Hedge Funds Weigh In On EuroDry

An institutional investor recently bought a new position in EuroDry stock. BlackRock Inc. acquired a new position in EuroDry (NASDAQ:EDRY) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,135 shares of the company’s stock, valued at approximately $47,000. BlackRock Inc. owned 0.07% of EuroDry as of its most recent SEC filing. 2.44% of the stock is owned by institutional investors and hedge funds.

EuroDry Company Profile

EuroDry Limited is a Marshall Islands–incorporated shipping company, formed in 2005 and headquartered in Piraeus, Greece. The company is publicly traded on the NASDAQ under the symbol EDRY. Since its inception, EuroDry has focused exclusively on the marine transportation of drybulk commodities and has grown its fleet through a combination of newbuilding contracts and second-hand acquisitions.

As of mid-2024, EuroDry’s operating fleet comprises Capesize, Panamax and Supramax drybulk carriers, collectively providing over one million deadweight tons (dwt) of capacity.