EuroDry (NASDAQ:EDRY) Stock Short Interest Report for September

EuroDry (NASDAQ:EDRY) was the recipient of a large drop in short interest in the month of September. As of September 30th, there was short interest totaling 135,118 shares, a drop of 43.2% from the September 15th total of 237,860 shares. Based on an average trading volume of 196,614 shares, the short-interest ratio is currently 0.7 days. Approximately 9.7% of the shares of the stock are sold short.

Insider Buying and Selling at EuroDry

In other EuroDry news, insider Symeon Pariaros sold 2,700 shares of EuroDry stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $42.00, for a total value of $113,400.00. Following the completion of the transaction, the insider directly owned 4,576 shares of the company’s stock, valued at $192,192. The trade was a 37.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Aristeidis Pittas sold 2,950 shares of the company’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $50.76, for a total value of $149,742.00. Following the sale, the director owned 33,020 shares of the company’s stock, valued at approximately $1,676,095.20. The trade was a 8.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders acquired 2,200 shares of company stock valued at $110,925 and sold 12,726 shares valued at $568,005. 51.40% of the stock is owned by insiders.

Institutional Trading of EuroDry

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC lifted its stake 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. MassMutual Private Wealth & Trust FSB acquired a new stake in shares of EuroDry during the 3rd quarter valued at $32,000. Finally, BlackRock Inc. bought a new stake in EuroDry during the 2nd quarter worth $47,000. Institutional investors own 2.44% of the company’s stock.

Analysts Set New Price Targets

EDRY has been the topic of a number of analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of EuroDry in a research note on Friday, August 21st. Alliance Global Partners restated a “buy” rating on shares of EuroDry in a research report on Friday, August 7th. Finally, Zacks Research cut shares of EuroDry from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 6th. Two 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $23.50.

EuroDry Price Performance

NASDAQ EDRY traded down $1.74 during trading on Friday, hitting $45.70. 91,614 shares of the company’s stock were exchanged, compared to its average volume of 166,301. The company has a current ratio of 1.28, a quick ratio of 1.23 and a debt-to-equity ratio of 0.69. The company has a market cap of $131.16 million, a PE ratio of 13.81 and a beta of 0.77. EuroDry has a fifty-two week low of $11.94 and a fifty-two week high of $73.07. The stock’s 50 day moving average price is $52.99 and its two-hundred day moving average price is $33.09.

EuroDry (NASDAQ:EDRY) last posted 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. The company had revenue of $17.70 million for the quarter, compared to the consensus estimate of $17.86 million. EuroDry had a net margin of 15.02% and a return on equity of 8.77%. Research analysts expect that EuroDry will post 5.77 EPS for the current year.

EuroDry Company Profile

EuroDry Ltd. is a dry bulk shipping company that owns and operates vessels used to transport major and minor bulk commodities worldwide. Its fleet serves international trade routes and carries cargoes such as iron ore, grains, coal, steel products, and other dry bulk materials.

The company operates vessels in several dry bulk segments, including Handysize, Supramax, Ultramax, and Panamax ships. EuroDry manages the commercial and technical operations of its vessels through a combination of voyage charters, time charters, and other employment arrangements, depending on market conditions and customer requirements.

EuroDry was established in 1997 and is headquartered in Maroussi, Greece.