EuroDry (NASDAQ:EDRY) Short Interest Update

EuroDry (NASDAQ:EDRY) was the target of a significant drop in short interest in March. As of March 13th, there was short interest totaling 1,586 shares, a drop of 69.8% from the February 26th total of 5,249 shares. Approximately 0.1% of the company’s shares are short sold. Based on an average trading volume of 39,504 shares, the short-interest ratio is presently 0.0 days.

EuroDry Stock Down 1.7%

Shares of NASDAQ EDRY traded down $0.34 during mid-day trading on Thursday, reaching $19.39. The company had a trading volume of 8,271 shares, compared to its average volume of 22,387. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.46 and a current ratio of 1.53. The company has a market capitalization of $56.02 million, a price-to-earnings ratio of -12.35 and a beta of 0.87. The stock has a fifty day moving average of $16.91 and a two-hundred day moving average of $14.22. EuroDry has a 12-month low of $7.60 and a 12-month high of $23.98.

EuroDry (NASDAQ:EDRY) last announced its quarterly earnings data on Thursday, February 19th. The company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.09. EuroDry had a negative net margin of 8.16% and a negative return on equity of 6.83%. The firm had revenue of $17.39 million for the quarter, compared to the consensus estimate of $17.77 million. As a group, equities research analysts expect that EuroDry will post -2.84 EPS for the current year.

Analyst Ratings Changes

Several research firms have weighed in on EDRY. Zacks Research upgraded shares of EuroDry from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 13th. Noble Financial raised EuroDry from a “market perform” rating to an “outperform” rating and set a $23.50 target price for the company in a research report on Thursday, February 12th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of EuroDry in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, EuroDry presently has an average rating of “Moderate Buy” and an average target price of $23.50.

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.