11,479 Shares in EuroDry $EDRY Acquired by Sowell Financial Services LLC

Sowell Financial Services LLC acquired a new stake in shares of EuroDry (NASDAQ:EDRY) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 11,479 shares of the company’s stock, valued at approximately $592,000. Sowell Financial Services LLC owned about 0.40% of EuroDry as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB bought a new position in EuroDry during the third quarter valued at approximately $32,000. BlackRock Inc. purchased a new stake in EuroDry in the second quarter worth approximately $47,000. Finally, Renaissance Technologies LLC grew its position in EuroDry by 53.6% in the 1st 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 during the period. Institutional investors own 2.44% of the company’s stock.

EuroDry Stock Performance

EDRY opened at $43.90 on Friday. 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 $125.99 million, a price-to-earnings ratio of 13.26 and a beta of 0.77. The company’s 50 day moving average is $53.82 and its 200 day moving average is $34.02. EuroDry has a 12-month low of $11.98 and a 12-month high of $73.07.

EuroDry (NASDAQ:EDRY) last announced its earnings results on Thursday, August 6th. The company reported $2.44 EPS 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 business had revenue of $17.70 million during the quarter, compared to analysts’ expectations of $17.86 million. On average, equities research analysts predict that EuroDry will post 5.77 EPS for the current year.

Wall Street Analyst Weigh In

EDRY has been the subject of a number of research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of EuroDry in a research note on Friday, August 21st. Alliance Global Partners reissued a “buy” rating on shares of EuroDry in a report on Friday, August 7th. Finally, Zacks Research cut EuroDry from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 6th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $23.50.

Insiders Place Their Bets

In other EuroDry news, Director Aristeidis Pittas acquired 600 shares of the business’s stock in a transaction dated Thursday, October 15th. The stock was purchased at an average price of $48.17 per share, with a total value of $28,902.00. Following the transaction, the director directly owned 77,088 shares in the company, valued at approximately $3,713,328.96. The trade was a 0.78% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Symeon Pariaros sold 2,676 shares of the company’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $45.80, for a total value of $122,560.80. Following the completion of the sale, the insider owned 1,900 shares of the company’s stock, valued at $87,020. This trade represents a 58.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have bought 2,200 shares of company stock valued at $110,925 and have sold 12,726 shares valued at $568,005. Insiders own 51.40% of the company’s stock.

EuroDry 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.