EuroDry (NASDAQ:EDRY) Insider Sells $75,962.00 in Stock

EuroDry (NASDAQ:EDRY) insider Symeon Pariaros sold 1,900 shares of the 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 sale, the insider directly owned 7,276 shares of the company’s stock, valued at approximately $290,894.48. This trade represents a 20.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

EuroDry Trading Down 5.4%

NASDAQ EDRY opened at $36.57 on Friday. EuroDry has a one year low of $10.18 and a one year high of $40.00. The company’s 50 day moving average price is $25.10 and its 200 day moving average price is $21.41. 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 firm has a market capitalization of $105.69 million, a price-to-earnings ratio of 11.05 and a beta of 0.68.

EuroDry (NASDAQ:EDRY) last announced its quarterly earnings results on Thursday, August 6th. The company reported $2.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $1.21. EuroDry had a net margin of 15.02% and a return on equity of 8.77%. The firm had revenue of $17.70 million for the quarter, compared to analysts’ expectations of $17.86 million. On average, sell-side analysts predict that EuroDry will post 5.77 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on EDRY shares. Zacks Research upgraded EuroDry from a “hold” rating to a “strong-buy” rating in a report on Friday, July 10th. Wall Street Zen upgraded EuroDry from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 3rd. Weiss Ratings downgraded EuroDry from a “sell (d+)” rating to a “sell (d-)” rating in a research report on Tuesday, May 26th. Finally, Alliance Global Partners reiterated a “buy” rating on shares of EuroDry in a research note on Friday, August 7th. One equities research 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.50.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in EuroDry stock. BlackRock Inc. purchased a new stake in shares of EuroDry (NASDAQ:EDRY) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 2,135 shares of the company’s stock, valued at approximately $47,000. BlackRock Inc. owned approximately 0.07% of EuroDry at the end of the most recent quarter. 2.44% of the stock is currently owned by hedge funds and other institutional investors.

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.