Insider Selling: EuroDry (NASDAQ:EDRY) Insider Sells 2,700 Shares of Stock

EuroDry (NASDAQ:EDRY) insider Symeon Pariaros sold 2,700 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $42.00, for a total transaction of $113,400.00. Following the sale, the insider owned 4,576 shares in the company, valued at $192,192. The trade was a 37.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Symeon Pariaros also recently made the following trade(s):

• On Wednesday, August 12th, Symeon Pariaros sold 1,900 shares of EuroDry stock. The stock was sold at an average price of $39.98, for a total value of $75,962.00.

EuroDry Stock Performance

NASDAQ:EDRY opened at $41.49 on Wednesday. EuroDry has a 52-week low of $10.31 and a 52-week high of $43.30. The business’s fifty day moving average is $25.84 and its 200 day moving average is $21.85. 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 firm has a market cap of $119.91 million, a price-to-earnings ratio of 12.53 and a beta of 0.68.

EuroDry (NASDAQ:EDRY) last released its quarterly earnings data on Thursday, August 6th. The company reported $2.44 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $17.86 million. Research analysts predict that EuroDry will post 5.77 EPS for the current year.

Analyst Ratings Changes

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

Institutional Investors Weigh In On EuroDry

A hedge fund recently raised its position in EuroDry stock. Renaissance Technologies LLC lifted its stake in EuroDry (NASDAQ:EDRY) by 53.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 60,347 shares of the company’s stock after acquiring an additional 21,047 shares during the quarter. Renaissance Technologies LLC owned 2.09% of EuroDry worth $1,189,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 2.44% of the company’s stock.

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.