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 that occurred on Monday, October 26th. The shares were sold at an average price of $43.80, for a total transaction of $90,534.60. Following the completion of the transaction, the director owned 8,400 shares in the company, valued at $367,920. This represents a 19.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

EuroDry Stock Up 0.9%

NASDAQ:EDRY traded up $0.41 during midday trading on Tuesday, hitting $45.38. 9,489 shares of the company were exchanged, compared to its average volume of 69,215. The company has a current ratio of 1.28, a quick ratio of 1.23 and a debt-to-equity ratio of 0.69. EuroDry has a fifty-two week low of $12.09 and a fifty-two week high of $73.07. The company has a market capitalization of $130.10 million, a PE ratio of 13.80 and a beta of 0.77. The company has a fifty day simple moving average of $53.57 and a 200 day simple moving average of $28.98.

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

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. MassMutual Private Wealth & Trust FSB purchased a new position in EuroDry in the 3rd quarter valued at approximately $32,000. BlackRock Inc. acquired a new position in EuroDry during the second quarter worth $47,000. Sowell Financial Services LLC purchased a new stake in EuroDry during the third quarter worth $592,000. Finally, Renaissance Technologies LLC boosted its position in EuroDry by 53.6% during the first quarter. Renaissance Technologies LLC now owns 60,347 shares of the company’s stock worth $1,189,000 after purchasing an additional 21,047 shares in the last quarter. 2.44% of the stock is currently owned by institutional investors and hedge funds.

EuroDry Company Profile

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.