EuroDry Ltd. (NASDAQ:EDRY) was the target of a large growth in short interest in April. As of April 15th, there was short interest totalling 7,700 shares, a growth of 20.3% from the March 31st total of 6,400 shares. Currently, 0.7% of the shares of the stock are sold short. Based on an average daily volume of 113,900 shares, the days-to-cover ratio is currently 0.1 days.

Shares of EDRY traded up $0.57 during trading hours on Tuesday, hitting $15.27. 3,001 shares of the stock traded hands, compared to its average volume of 101,894. The business has a fifty day moving average of $9.37 and a 200-day moving average of $6.96. The firm has a market capitalization of $35.85 million, a PE ratio of -5.83 and a beta of 0.19. EuroDry has a 1-year low of $2.98 and a 1-year high of $16.37. The company has a current ratio of 0.38, a quick ratio of 0.32 and a debt-to-equity ratio of 1.30.

EuroDry (NASDAQ:EDRY) last announced its quarterly earnings data on Monday, February 15th. The company reported ($0.31) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.63) by $0.32. The firm had revenue of $6.41 million during the quarter, compared to analysts’ expectations of $5.60 million. EuroDry had a negative return on equity of 8.95% and a negative net margin of 17.85%. As a group, equities research analysts expect that EuroDry will post -3.2 earnings per share for the current fiscal year.

A hedge fund recently bought a new stake in EuroDry stock. Renaissance Technologies LLC bought a new position in shares of EuroDry Ltd. (NASDAQ:EDRY) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 13,000 shares of the company’s stock, valued at approximately $71,000. Renaissance Technologies LLC owned 0.56% of EuroDry as of its most recent filing with the Securities and Exchange Commission. 8.05% of the stock is currently owned by institutional investors and hedge funds.

Separately, Zacks Investment Research lowered EuroDry from a “buy” rating to a “hold” rating in a research note on Wednesday, April 21st.

About EuroDry

EuroDry Ltd., through its subsidiaries, provides ocean-going transportation services worldwide. The company owns and operates drybulk carriers that transport major bulks, such as iron ore, coal, and grains; and minor bulks comprising bauxite, phosphate, and fertilizers. As of March 31, 2020, it operated a fleet of seven drybulk vessels, including four Panamax drybulk carriers, one Ultramax drybulk carrier, and two Kamsarmax carriers with a cargo capacity of 528,931 deadweight tons.

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