Short Interest in EuroDry (NASDAQ:EDRY) Rises By 27.0%

EuroDry (NASDAQ:EDRY) was the recipient of a large increase in short interest in the month of January. As of January 15th, there was short interest totaling 1,137 shares, an increase of 27.0% from the December 31st total of 895 shares. Based on an average daily volume of 3,236 shares, the short-interest ratio is presently 0.4 days. Based on an average daily volume of 3,236 shares, the short-interest ratio is presently 0.4 days.

EuroDry Price Performance

EDRY traded up $0.26 on Monday, reaching $14.52. The company had a trading volume of 832 shares, compared to its average volume of 4,115. EuroDry has a 52-week low of $7.60 and a 52-week high of $16.14. The company has a current ratio of 1.27, a quick ratio of 1.21 and a debt-to-equity ratio of 0.86. The business has a 50 day simple moving average of $13.28 and a 200 day simple moving average of $12.32.

EuroDry (NASDAQ:EDRY) last issued its quarterly earnings results on Friday, November 14th. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.08). The company had revenue of $14.39 million during the quarter, compared to the consensus estimate of $14.56 million. EuroDry had a negative return on equity of 9.87% and a negative net margin of 21.73%. On average, sell-side analysts forecast that EuroDry will post -2.84 EPS for the current year.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of EuroDry in a research report on Thursday, January 22nd. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, EuroDry presently has a consensus rating of “Reduce”.

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.