EuroDry Ltd. (NASDAQ:EDRY) Short Interest Down 57.1% in February

EuroDry Ltd. (NASDAQ:EDRY) was the target of 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. Approximately 0.2% of the company’s shares are short sold. Based on an average daily volume of 9,200 shares, the days-to-cover ratio is presently 0.3 days.

Analyst Upgrades and Downgrades

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

EuroDry Trading Up 3.5 %

EDRY stock traded up $0.37 during mid-day trading on Thursday, reaching $10.89. The company had a trading volume of 37,920 shares, compared to its average volume of 8,361. The firm has a 50 day moving average of $11.00 and a 200 day moving average of $14.81. The company has a market capitalization of $30.87 million, a PE ratio of -4.95 and a beta of 0.69. EuroDry has a 12 month low of $10.04 and a 12 month high of $24.84. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.84 and a quick ratio of 0.74.

Hedge Funds Weigh In On EuroDry

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) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 10,003 shares of the company’s stock, valued at approximately $112,000. B. Riley Wealth Advisors Inc. owned approximately 0.35% of EuroDry as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 2.44% of the company’s stock.

About EuroDry

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.