Aristeidis Pittas Sells 500 Shares of EuroDry (NASDAQ:EDRY) Stock

EuroDry (NASDAQ:EDRY) Director Aristeidis Pittas sold 500 shares of the firm’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $44.56, for a total transaction of $22,280.00. Following the transaction, the director owned 75,913 shares of the company’s stock, valued at approximately $3,382,683.28. This trade represents a 0.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

EuroDry Price Performance

Shares of NASDAQ EDRY traded up $0.89 during trading on Tuesday, hitting $52.62. The company had a trading volume of 189,028 shares, compared to its average volume of 46,263. 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 company has a market cap of $152.06 million, a P/E ratio of 15.90 and a beta of 0.68. The business’s 50-day moving average is $27.71 and its 200 day moving average is $22.75. EuroDry has a 52 week low of $10.62 and a 52 week high of $53.50.

EuroDry (NASDAQ:EDRY) last announced its earnings results on Thursday, August 6th. The company reported $2.44 EPS for the quarter, beating the consensus estimate of $1.23 by $1.21. The business had revenue of $17.70 million during the quarter, compared to the consensus estimate of $17.86 million. EuroDry had a return on equity of 8.77% and a net margin of 15.02%. Equities research analysts predict that EuroDry will post 5.77 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in EuroDry stock. Renaissance Technologies LLC increased its stake in shares of EuroDry (NASDAQ:EDRY) by 53.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,347 shares of the company’s stock after buying an additional 21,047 shares during the period. Renaissance Technologies LLC owned 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 institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on EDRY. Weiss Ratings restated a “sell (d-)” rating on shares of EuroDry in a report on Friday. Wall Street Zen raised EuroDry from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 3rd. Alliance Global Partners reissued a “buy” rating on shares of EuroDry in a research report on Friday, August 7th. Finally, Zacks Research raised shares of EuroDry from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 10th. One investment 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 company’s stock. According to MarketBeat.com, EuroDry has a consensus rating of “Moderate Buy” and an average 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.