EuroDry Ltd. (NASDAQ:EDRY) Short Interest Down 88.5% in March

EuroDry Ltd. (NASDAQ:EDRY) saw a large drop in short interest in the month of March. As of March 31st, there was short interest totalling 300 shares, a drop of 88.5% from the March 15th total of 2,600 shares. Approximately 0.0% of the company’s stock are short sold. Based on an average daily trading volume, of 7,200 shares, the short-interest ratio is currently 0.0 days.

EuroDry Stock Down 3.9 %

Shares of EDRY traded down $0.36 during mid-day trading on Tuesday, hitting $8.78. 403 shares of the company’s stock were exchanged, compared to its average volume of 8,405. The stock has a market cap of $24.90 million, a price-to-earnings ratio of -3.99 and a beta of 0.72. The firm has a fifty day moving average of $10.46 and a two-hundred day moving average of $13.04. The company has a quick ratio of 0.74, a current ratio of 0.84 and a debt-to-equity ratio of 0.74. EuroDry has a twelve month low of $8.00 and a twelve month high of $24.84.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On EuroDry

A hedge fund recently raised its stake in EuroDry stock. Linden Thomas Advisory Services LLC increased its stake in shares of EuroDry Ltd. (NASDAQ:EDRY) by 16.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 29,693 shares of the company’s stock after acquiring an additional 4,289 shares during the period. Linden Thomas Advisory Services LLC owned 1.05% of EuroDry worth $333,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 2.44% of the company’s stock.

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.