Insider Selling: EuroDry (NASDAQ:EDRY) Insider Sells $75,962.00 in Stock

EuroDry (NASDAQ:EDRY) insider Symeon Pariaros sold 1,900 shares of the business’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $39.98, for a total value of $75,962.00. Following the completion of the transaction, the insider directly owned 7,276 shares of the company’s stock, valued at approximately $290,894.48. The trade was a 20.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

EuroDry Price Performance

NASDAQ EDRY opened at $38.16 on Thursday. 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 stock has a market cap of $110.28 million, a price-to-earnings ratio of 11.53 and a beta of 0.68. The business has a 50 day simple moving average of $24.48 and a 200 day simple moving average of $21.12. EuroDry has a 52-week low of $10.18 and a 52-week high of $40.00.

EuroDry (NASDAQ:EDRY) last released its quarterly 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. 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 analysts’ expectations of $17.86 million. Analysts anticipate that EuroDry will post 5.77 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On EuroDry

An institutional investor recently raised its position in EuroDry stock. Renaissance Technologies LLC boosted its position in EuroDry (NASDAQ:EDRY) by 53.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 60,347 shares of the company’s stock after buying an additional 21,047 shares during the period. Renaissance Technologies LLC owned approximately 2.09% of EuroDry worth $1,189,000 at the end of the most recent quarter. 2.44% of the stock is currently owned by hedge funds and other institutional investors.

About EuroDry

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.