EuroDry (NASDAQ:EDRY) Short Interest Update

EuroDry (NASDAQ:EDRY) was the recipient of a significant drop in short interest in March. As of March 13th, there was short interest totaling 1,586 shares, a drop of 69.8% from the February 26th total of 5,249 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average daily volume of 39,504 shares, the short-interest ratio is currently 0.0 days.

EuroDry Price Performance

Shares of EDRY traded up $1.17 during midday trading on Friday, hitting $19.87. 45,298 shares of the company traded hands, compared to its average volume of 22,871. The stock has a 50-day moving average of $17.01 and a 200-day moving average of $14.25. EuroDry has a one year low of $7.60 and a one year high of $23.98. The firm has a market cap of $57.44 million, a P/E ratio of -12.66 and a beta of 0.87. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.53 and a quick ratio of 1.46.

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

Wall Street Analysts Forecast Growth

Several research analysts recently commented on EDRY shares. Noble Financial raised shares of 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. Zacks Research raised shares of EuroDry from a “hold” rating to a “strong-buy” rating in a report on Friday, February 13th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of EuroDry in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, EuroDry presently has an average rating of “Moderate Buy” and a consensus price target 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.