EuroDry (NASDAQ:EDRY) Short Interest Up 154.5% in July

EuroDry (NASDAQ:EDRY) was the recipient of a large growth in short interest in July. As of July 31st, there was short interest totaling 11,188 shares, a growth of 154.5% from the July 15th total of 4,396 shares. Currently, 0.4% of the company’s stock are sold short. Based on an average trading volume of 135,011 shares, the short-interest ratio is presently 0.1 days.

Analyst Ratings Changes

EDRY has been the topic of a number of research reports. Alliance Global Partners reissued a “buy” rating on shares of EuroDry in a research report on Friday, August 7th. Wall Street Zen upgraded shares of EuroDry from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 3rd. Zacks Research raised shares of EuroDry from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 10th. Finally, Weiss Ratings cut shares of EuroDry from a “sell (d+)” rating to a “sell (d-)” rating in a research report on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, EuroDry currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.50.

Insiders Place Their Bets

In other EuroDry news, insider Symeon Pariaros sold 1,900 shares of the company’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $39.98, for a total transaction of $75,962.00. Following the completion of the transaction, the insider owned 7,276 shares of the company’s stock, valued at $290,894.48. This represents a 20.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Over the last three months, insiders sold 2,800 shares of company stock worth $110,262. Corporate insiders own 51.40% of the company’s stock.

Institutional Trading of EuroDry

An institutional investor recently raised its stake in EuroDry stock. Renaissance Technologies LLC grew its position in EuroDry (NASDAQ:EDRY) by 53.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,347 shares of the company’s stock after acquiring an additional 21,047 shares during the period. Renaissance Technologies LLC owned about 2.09% of EuroDry worth $1,189,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 2.44% of the company’s stock.

EuroDry Stock Down 5.4%

NASDAQ:EDRY opened at $36.57 on Friday. The firm has a market capitalization of $105.69 million, a price-to-earnings ratio of 11.05 and a beta of 0.68. EuroDry has a twelve month low of $10.18 and a twelve month high of $40.00. The stock’s 50 day moving average price is $25.10 and its two-hundred day moving average price is $21.41. The company has a quick ratio of 1.23, a current ratio of 1.28 and a debt-to-equity ratio of 0.69.

EuroDry (NASDAQ:EDRY) last announced its quarterly earnings data on Thursday, August 6th. The company reported $2.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $1.21. The company had revenue of $17.70 million for 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%. Equities research analysts expect that EuroDry will post 5.77 earnings per share for the current fiscal year.

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.