EuroDry Ltd. (NASDAQ:EDRY) Sees Significant Drop in Short Interest

EuroDry Ltd. (NASDAQ:EDRY) was the recipient of a large decline in short interest during the month of February. As of February 28th, there was short interest totalling 2,700 shares, a decline of 57.1% from the February 13th total of 6,300 shares. Currently, 0.2% of the company’s shares are sold short. Based on an average trading volume of 9,200 shares, the days-to-cover ratio is presently 0.3 days.

EuroDry Trading Up 3.5 %

EDRY traded up $0.37 during trading hours on Thursday, reaching $10.89. The company’s stock had a trading volume of 37,920 shares, compared to its average volume of 8,361. The stock has a market cap of $30.87 million, a PE ratio of -4.95 and a beta of 0.69. EuroDry has a fifty-two week low of $10.04 and a fifty-two week high of $24.84. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.84 and a quick ratio of 0.74. The business’s 50-day moving average is $11.00 and its 200-day moving average is $14.81.

Hedge Funds Weigh In On EuroDry

A hedge fund recently bought a new stake in EuroDry stock. B. Riley Wealth Advisors Inc. purchased a new stake in EuroDry Ltd. (NASDAQ:EDRY) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 10,003 shares of the company’s stock, valued at approximately $112,000. B. Riley Wealth Advisors Inc. owned 0.35% of EuroDry as of its most recent filing with the SEC. Institutional investors own 2.44% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Noble Financial downgraded shares of EuroDry from an “outperform” rating to a “market perform” rating in a research note on Friday, February 7th.

About EuroDry

EuroDry Ltd., through its subsidiaries, provides ocean-going transportation services worldwide. It owns and operates a fleet of drybulk carriers that transport major bulks, such as iron ore, coal, and grains; and minor bulks, including bauxite, phosphate, and fertilizers. The company fleet consisted of 13 drybulk carriers comprising five Panamax drybulk carriers, two Kamsarmax, five Ultramax drybulk carriers, and one Supramax drybulk carrier with a total cargo carrying capacity of 918,502 dwt.