EuroDry (NASDAQ:EDRY) Stock: Insider Panagiotis Kyriakopoulos Sells 2,067 Shares

EuroDry (NASDAQ:EDRY) Director Panagiotis Kyriakopoulos sold 2,067 shares of the stock in a transaction on Monday, October 26th. The stock was sold at an average price of $43.80, for a total transaction of $90,534.60. Following the completion of the sale, the director directly owned 8,400 shares of the company’s stock, valued at approximately $367,920. This trade represents a 19.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

EuroDry Stock Up 1.0%

Shares of EDRY stock opened at $46.00 on Thursday. The company has a market capitalization of $132.02 million, a price-to-earnings ratio of 13.90 and a beta of 0.77. EuroDry has a one year low of $12.09 and a one year high of $73.07. The company’s fifty day moving average price is $53.77 and its 200-day moving average price is $29.31. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.28 and a quick ratio of 1.23.

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

Institutional Investors Weigh In On EuroDry

A number of hedge funds have recently made changes to their positions in EDRY. MassMutual Private Wealth & Trust FSB bought a new stake in shares of EuroDry in the 3rd quarter worth about $32,000. BlackRock Inc. purchased a new stake in shares of EuroDry during the 2nd quarter valued at about $47,000. Sowell Financial Services LLC purchased a new stake in shares of EuroDry during the 3rd quarter valued at about $592,000. Finally, Renaissance Technologies LLC lifted its holdings in shares of EuroDry by 53.6% in the 1st quarter. Renaissance Technologies LLC now owns 60,347 shares of the company’s stock valued at $1,189,000 after acquiring an additional 21,047 shares during the last quarter. 2.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on EDRY shares. Alliance Global Partners restated a “buy” rating on shares of EuroDry in a research report on Friday, August 7th. Zacks Research cut EuroDry from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 6th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of EuroDry in a research note on Friday, August 21st. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, EuroDry has a consensus rating of “Hold” and a consensus price target of $23.50.

About EuroDry

EuroDry Ltd. (NASDAQ: EDRY) is a dry bulk shipping company that owns and operates vessels used to transport a range of essential commodities. Its cargoes may include iron ore, grain, coal, steel products, forest products and other dry bulk materials.

The company’s fleet has primarily consisted of smaller dry bulk vessels, including Handy-size and Supramax-class ships. These vessels serve international trade routes and are employed through time charters, voyage charters and other commercial arrangements, depending on market conditions and customer requirements.

EuroDry was established in 1997 and is managed from offices in Athens, Greece.