Insider Selling: EuroDry (NASDAQ:EDRY) Director Sells $18,900.00 in Stock

EuroDry (NASDAQ:EDRY) Director Aristeidis Pittas sold 500 shares of the firm’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $37.80, for a total value of $18,900.00. Following the completion of the sale, the director directly owned 76,463 shares of the company’s stock, valued at $2,890,301.40. The trade was a 0.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

EuroDry Stock Performance

NASDAQ:EDRY opened at $36.57 on Friday. The company has a quick ratio of 1.23, a current ratio of 1.28 and a debt-to-equity ratio of 0.69. The firm’s fifty day simple moving average is $25.10 and its 200 day simple moving average is $21.41. The stock has a market cap of $105.72 million, a P/E 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.

EuroDry (NASDAQ:EDRY) last issued its quarterly earnings data on Thursday, August 6th. The company reported $2.44 EPS 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 business had revenue of $17.70 million during the quarter, compared to analyst estimates of $17.86 million. As a group, research analysts predict that EuroDry will post 5.77 EPS for the current year.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On EuroDry

A hedge fund recently bought a new stake in EuroDry stock. BlackRock Inc. bought a new position in EuroDry (NASDAQ:EDRY) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 2,135 shares of the company’s stock, valued at approximately $47,000. BlackRock Inc. owned 0.07% of EuroDry at the end of the most recent reporting period. Hedge funds and other institutional investors 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.