EuroDry (NASDAQ:EDRY) Director Aristeidis Pittas Acquires 900 Shares of Stock

EuroDry (NASDAQ:EDRY) Director Aristeidis Pittas purchased 900 shares of the stock in a transaction dated Thursday, September 24th. The stock was purchased at an average cost of $51.33 per share, for a total transaction of $46,197.00. Following the completion of the purchase, the director directly owned 76,113 shares of the company’s stock, valued at approximately $3,906,880.29. The trade was a 1.20% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

EuroDry Stock Down 5.4%

NASDAQ EDRY opened at $48.16 on Friday. The business has a fifty day moving average price of $44.65 and a 200 day moving average price of $29.50. EuroDry has a one year low of $11.94 and a one year high of $73.07. 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 has a market cap of $138.22 million, a P/E ratio of 14.55 and a beta of 0.74.

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

Institutional Inflows and Outflows

A hedge fund recently bought a new position in EuroDry stock. BlackRock Inc. acquired a new stake in EuroDry (NASDAQ:EDRY) in the second quarter, according to the company in its most recent Form 13F filing 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 at the end of the most recent quarter. Institutional investors and hedge funds own 2.44% of the company’s stock.

Analysts Set New Price Targets

EDRY has been the topic of a number of recent research reports. Weiss Ratings restated a “sell (d-)” rating on shares of EuroDry in a research report on Friday, August 21st. Zacks Research upgraded shares of EuroDry from a “hold” rating to a “strong-buy” rating in a report on Friday, July 10th. Finally, Alliance Global Partners reissued a “buy” rating on shares of EuroDry in a research note on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.50.

About EuroDry

EuroDry Ltd. (NASDAQ: EDRY) is an international dry bulk shipping company that owns and operates ocean-going vessels. The company provides seaborne transportation for a broad range of bulk commodities, including grain, iron ore, coal, steel products, fertilizers and forest products.

EuroDry’s vessels serve commercial customers and trading routes in global markets, transporting dry bulk cargoes between major ports and commodity-producing and consuming regions. Its fleet has included vessels in the Panamax, Kamsarmax, Ultramax and Handy-size segments, allowing the company to serve a variety of cargo volumes and trade routes.

EuroDry was established in 1997 and is incorporated in the Republic of the Marshall Islands.