EuroDry (NASDAQ:EDRY) Short Interest Up 225.6% in June

EuroDry (NASDAQ:EDRY) was the target of a large increase in short interest during the month of June. As of June 15th, there was short interest totaling 5,861 shares, an increase of 225.6% from the May 31st total of 1,800 shares. Approximately 0.4% of the company’s shares are short sold. Based on an average trading volume of 30,201 shares, the short-interest ratio is currently 0.2 days.

EuroDry Trading Up 0.6%

Shares of EDRY traded up $0.13 during trading hours on Monday, reaching $22.14. 36,401 shares of the company traded hands, compared to its average volume of 25,811. EuroDry has a 12 month low of $9.15 and a 12 month high of $28.00. The company has a quick ratio of 1.55, a current ratio of 1.61 and a debt-to-equity ratio of 0.86. The company’s fifty day moving average price is $22.09 and its two-hundred day moving average price is $18.30. The company has a market capitalization of $64.01 million, a price-to-earnings ratio of -170.31 and a beta of 0.71.

EuroDry (NASDAQ:EDRY) last released its quarterly earnings results on Wednesday, May 20th. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.30). EuroDry had a negative return on equity of 0.88% and a negative net margin of 0.55%.The company had revenue of $12.79 million during the quarter, compared to the consensus estimate of $15.62 million. Equities research analysts predict that EuroDry will post 3.87 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently raised its stake in EuroDry stock. Renaissance Technologies LLC increased its position in EuroDry (NASDAQ:EDRY) by 53.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 60,347 shares of the company’s stock after purchasing an additional 21,047 shares during the period. Renaissance Technologies LLC owned 2.09% of EuroDry worth $1,189,000 at the end of the most recent reporting period. 2.44% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on EDRY. Zacks Research lowered shares of EuroDry from a “strong-buy” rating to a “hold” rating in a report on Friday, April 24th. Wall Street Zen upgraded EuroDry from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 3rd. Finally, Weiss Ratings lowered EuroDry from a “sell (d+)” rating to a “sell (d-)” rating in a research report on Tuesday, May 26th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, EuroDry presently has a consensus rating of “Hold” and an average price target 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.