EuroDry (NASDAQ:EDRY) Short Interest Up 113.6% in February

EuroDry (NASDAQ:EDRY) was the recipient of a significant increase in short interest during the month of February. As of February 13th, there was short interest totaling 2,196 shares, an increase of 113.6% from the January 29th total of 1,028 shares. Based on an average trading volume of 3,321 shares, the short-interest ratio is presently 0.7 days. Based on an average trading volume of 3,321 shares, the short-interest ratio is presently 0.7 days.

EuroDry Trading Up 1.7%

Shares of NASDAQ:EDRY traded up $0.36 during trading on Friday, reaching $21.98. The company had a trading volume of 27,422 shares, compared to its average volume of 16,908. EuroDry has a fifty-two week low of $7.60 and a fifty-two week high of $21.99. The company has a current ratio of 1.53, a quick ratio of 1.21 and a debt-to-equity ratio of 0.89. The stock’s fifty day moving average price is $14.40 and its 200 day moving average price is $13.04.

EuroDry (NASDAQ:EDRY) last posted its quarterly earnings data on Thursday, February 19th. The company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.09. EuroDry had a negative net margin of 8.16% and a negative return on equity of 6.83%. The firm had revenue of $17.39 million for the quarter, compared to analyst estimates of $17.77 million. Analysts anticipate that EuroDry will post -2.84 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently commented on EDRY shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of EuroDry in a research report on Thursday, January 22nd. Zacks Research raised EuroDry from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 13th. Finally, Noble Financial raised EuroDry from a “market perform” rating to an “outperform” rating and set a $23.50 price objective for the company in a report on Thursday, February 12th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $23.50.

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.