EuroDry Ltd (NASDAQ:EDRY) saw a large drop in short interest in August. As of August 15th, there was short interest totalling 1,000 shares, a drop of 80.8% from the July 15th total of 5,200 shares. Currently, 0.1% of the company’s stock are sold short. Based on an average daily volume of 1,800 shares, the short-interest ratio is presently 0.6 days.
EDRY has been the topic of a number of recent research reports. Maxim Group set a $9.00 target price on EuroDry and gave the stock a “buy” rating in a report on Friday, August 9th. Zacks Investment Research upgraded EuroDry from a “hold” rating to a “buy” rating and set a $8.25 target price on the stock in a report on Tuesday, August 20th. ValuEngine upgraded EuroDry from a “sell” rating to a “hold” rating in a report on Tuesday, July 2nd. Finally, Noble Financial set a $14.00 target price on EuroDry and gave the stock a “buy” rating in a report on Friday, August 16th.
Shares of EDRY remained flat at $$7.55 during trading hours on Wednesday. The company had a trading volume of 20 shares, compared to its average volume of 2,171. EuroDry has a 12 month low of $6.51 and a 12 month high of $14.50. The stock’s 50 day moving average is $7.75 and its 200-day moving average is $7.70. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.88 and a quick ratio of 0.83. The firm has a market cap of $17.10 million, a P/E ratio of 31.46 and a beta of -0.95.
EuroDry Ltd., through its subsidiaries, provides ocean-going transportation services worldwide. The company owns and operates drybulk carriers that transport major bulks, such as iron ore, coal, and grains; and minor bulks comprising bauxite, phosphate, and fertilizers. As of November 15, 2018, it operated a fleet of six vessels, including one Ultramax, two Kamsarmax, and three Panamax drybulk carriers with a cargo capacity of 453,086 deadweight tons.
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