Short Interest in EuroDry (NASDAQ:EDRY) Declines By 54.9%
by Scott Moore · The Cerbat GemEuroDry (NASDAQ:EDRY – Get Free Report) was the target of a significant decline in short interest in the month of April. As of April 30th, there was short interest totaling 2,433 shares, a decline of 54.9% from the April 15th total of 5,389 shares. Approximately 0.1% of the shares of the company are sold short. Based on an average daily volume of 21,999 shares, the short-interest ratio is presently 0.1 days.
EuroDry Price Performance
EDRY traded down $0.87 during trading on Friday, reaching $21.16. 4,022 shares of the stock were exchanged, compared to its average volume of 23,996. The business’s 50 day moving average price is $20.18 and its two-hundred day moving average price is $16.18. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.53 and a quick ratio of 1.46. The company has a market capitalization of $61.15 million, a price-to-earnings ratio of -13.48 and a beta of 0.65. EuroDry has a 1 year low of $7.60 and a 1 year high of $23.98.
EuroDry (NASDAQ:EDRY – Get Free Report) last posted its earnings results on Thursday, February 19th. The company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.09. The company had revenue of $17.39 million for the quarter, compared to the consensus estimate of $17.77 million. EuroDry had a negative return on equity of 6.83% and a negative net margin of 8.16%. As a group, equities research analysts anticipate that EuroDry will post 2.98 earnings per share for the current year.
Analyst Ratings Changes
A number of analysts recently weighed in on EDRY shares. Noble Financial upgraded EuroDry from a “market perform” rating to an “outperform” rating and set a $23.50 price target on the stock in a research note on Thursday, February 12th. Wall Street Zen upgraded EuroDry from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 3rd. Zacks Research downgraded EuroDry from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 24th. Finally, Weiss Ratings upgraded EuroDry from a “sell (d-)” rating to a “sell (d+)” rating in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, EuroDry presently has an average rating of “Hold” and a consensus price target of $23.50.
Read Our Latest Stock Report on EuroDry
Institutional Trading of EuroDry
An institutional investor recently raised its position in EuroDry stock. Renaissance Technologies LLC grew its stake in EuroDry (NASDAQ:EDRY – Free Report) by 53.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,347 shares of the company’s stock after acquiring an additional 21,047 shares during the quarter. Renaissance Technologies LLC owned about 2.09% of EuroDry worth $1,189,000 at the end of the most recent quarter. 2.44% of the stock is 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.