Insider Selling: EuroDry (NASDAQ:EDRY) Director Sells $23,700.00 in Stock

EuroDry (NASDAQ:EDRY) Director Aristeidis Pittas sold 600 shares of EuroDry stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $39.50, for a total value of $23,700.00. Following the completion of the sale, the director owned 76,163 shares of the company’s stock, valued at $3,008,438.50. The trade was a 0.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

EuroDry Price Performance

Shares of NASDAQ:EDRY opened at $46.85 on Friday. 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 cap of $135.40 million, a price-to-earnings ratio of 14.15 and a beta of 0.68. The business has a 50-day simple moving average of $27.18 and a two-hundred day simple moving average of $22.43. EuroDry has a fifty-two week low of $10.51 and a fifty-two week high of $46.85.

EuroDry (NASDAQ:EDRY) last announced its quarterly earnings results on Thursday, August 6th. The company reported $2.44 earnings per share (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 firm had revenue of $17.70 million for the quarter, compared to the consensus estimate of $17.86 million. On average, analysts expect that EuroDry will post 5.77 earnings per share for the current year.

Analyst Ratings Changes

EDRY has been the subject of a number of research analyst reports. Zacks Research raised shares of EuroDry from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 10th. Alliance Global Partners reaffirmed a “buy” rating on shares of EuroDry in a report on Friday, August 7th. Wall Street Zen upgraded EuroDry from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 3rd. Finally, Weiss Ratings downgraded EuroDry from a “sell (d+)” rating to a “sell (d-)” rating in a report on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $23.50.

Hedge Funds Weigh In On EuroDry

A hedge fund recently bought a new position in EuroDry stock. BlackRock Inc. purchased a new position in EuroDry (NASDAQ:EDRY) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,135 shares of the company’s stock, valued at approximately $47,000. BlackRock Inc. owned 0.07% of EuroDry at the end of the most recent reporting period. Institutional investors and hedge funds own 2.44% of the company’s stock.

About EuroDry

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.