EuroDry (NASDAQ:EDRY) Short Interest Update

EuroDry (NASDAQ:EDRY) saw a significant growth in short interest during the month of July. As of July 31st, there was short interest totaling 11,188 shares, a growth of 154.5% from the July 15th total of 4,396 shares. Approximately 0.4% of the shares of the stock are sold short. Based on an average daily volume of 135,011 shares, the short-interest ratio is presently 0.1 days.

EuroDry Price Performance

EuroDry stock traded down $2.07 during midday trading on Friday, reaching $36.57. 81,776 shares of the company were exchanged, compared to its average volume of 133,200. The company has a market capitalization of $105.72 million, a price-to-earnings ratio of 11.05 and a beta of 0.68. The firm’s 50-day simple moving average is $25.10 and its 200-day simple moving average is $21.41. EuroDry has a 1 year low of $10.18 and a 1 year high of $40.00. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.23 and a current ratio of 1.28.

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

Insiders Place Their Bets

In other news, insider Symeon Pariaros sold 1,900 shares of the firm’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $39.98, for a total value of $75,962.00. Following the completion of the transaction, the insider owned 7,276 shares in the company, valued at $290,894.48. This trade represents a 20.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold a total of 2,800 shares of company stock valued at $110,262 over the last quarter. 51.40% of the stock is currently owned by corporate insiders.

Institutional Trading of EuroDry

A hedge fund recently bought a new position in EuroDry stock. BlackRock Inc. bought a new position in EuroDry (NASDAQ:EDRY) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 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 filing with the Securities and Exchange Commission. 2.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on EDRY shares. Weiss Ratings cut shares of EuroDry from a “sell (d+)” rating to a “sell (d-)” rating in a research report on Tuesday, May 26th. Zacks Research upgraded shares of EuroDry from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 10th. Alliance Global Partners reissued a “buy” rating on shares of EuroDry in a research note on Friday, August 7th. Finally, Wall Street Zen upgraded EuroDry from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 3rd. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $23.50.

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.