Insider Selling: EuroDry (NASDAQ:EDRY) Insider Sells $113,400.00 in Stock

EuroDry (NASDAQ:EDRY) insider Symeon Pariaros sold 2,700 shares of the firm’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 directly owned 4,576 shares of the company’s stock, valued at $192,192. This trade represents a 37.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

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

EuroDry Trading Up 7.9%

Shares of NASDAQ:EDRY opened at $46.85 on Friday. EuroDry has a 52-week low of $10.51 and a 52-week high of $46.85. The stock has a market capitalization of $135.40 million, a price-to-earnings ratio of 14.15 and a beta of 0.68. 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’s 50-day simple moving average is $27.18 and its two-hundred day simple moving average is $22.43.

EuroDry (NASDAQ:EDRY) last issued its quarterly earnings results on Thursday, August 6th. The company reported $2.44 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $1.21. The business had revenue of $17.70 million during the quarter, compared to analysts’ expectations of $17.86 million. EuroDry had a return on equity of 8.77% and a net margin of 15.02%. Analysts expect that EuroDry will post 5.77 EPS for the current year.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On EuroDry

A hedge fund recently bought a new position in EuroDry stock. BlackRock Inc. bought a new position in shares of EuroDry (NASDAQ:EDRY) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,135 shares of the company’s stock, valued at approximately $47,000. BlackRock Inc. owned approximately 0.07% of EuroDry as of its most recent SEC filing. 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.