Short Interest in EuroDry Ltd. (NASDAQ:EDRY) Decreases By 57.1%

by · The Cerbat Gem

EuroDry Ltd. (NASDAQ:EDRY – Get Free Report) saw a significant drop in short interest during the month of February. As of February 28th, there was short interest totalling 2,700 shares, a drop of 57.1% from the February 13th total of 6,300 shares. Based on an average daily volume of 9,200 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.2% of the shares of the company are short sold.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in EuroDry stock. B. Riley Wealth Advisors Inc. purchased a new position in shares of EuroDry Ltd. (NASDAQ:EDRY – Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 10,003 shares of the company’s stock, valued at approximately $112,000. B. Riley Wealth Advisors Inc. owned about 0.35% of EuroDry at the end of the most recent reporting period. Institutional investors own 2.44% of the company’s stock.

Analysts Set New Price Targets

Separately, Noble Financial cut shares of EuroDry from an “outperform” rating to a “market perform” rating in a report on Friday, February 7th.

Get Our Latest Report on EDRY

EuroDry Stock Performance

Shares of EuroDry stock traded down $0.14 on Friday, hitting $10.64. 2,062 shares of the company’s stock were exchanged, compared to its average volume of 8,610. The company has a 50-day simple moving average of $11.00 and a 200-day simple moving average of $14.81. The stock has a market capitalization of $30.18 million, a PE ratio of -4.84 and a beta of 0.69. EuroDry has a 1 year low of $10.04 and a 1 year high of $24.84. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.74 and a current ratio of 0.84.

About EuroDry

(Get Free Report)

EuroDry Ltd., through its subsidiaries, provides ocean-going transportation services worldwide. It owns and operates a fleet of drybulk carriers that transport major bulks, such as iron ore, coal, and grains; and minor bulks, including bauxite, phosphate, and fertilizers. The company fleet consisted of 13 drybulk carriers comprising five Panamax drybulk carriers, two Kamsarmax, five Ultramax drybulk carriers, and one Supramax drybulk carrier with a total cargo carrying capacity of 918,502 dwt.

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