EuroDry Ltd. (NASDAQ:EDRY) Short Interest Update

EuroDry Ltd. (NASDAQ:EDRY) saw a significant decline in short interest during the month of May. As of May 15th, there was short interest totalling 5,000 shares, a decline of 26.5% from the April 30th total of 6,800 shares. Based on an average daily trading volume, of 4,400 shares, the short-interest ratio is presently 1.1 days. Approximately 0.4% of the company’s stock are short sold.

EuroDry Price Performance

Shares of EDRY stock traded up $0.36 during trading hours on Monday, hitting $8.34. 1,369 shares of the company’s stock were exchanged, compared to its average volume of 8,112. EuroDry has a 52 week low of $7.60 and a 52 week high of $24.84. The stock has a market cap of $23.65 million, a price-to-earnings ratio of -3.79 and a beta of 0.87. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.84 and a quick ratio of 0.74. The stock’s 50-day moving average is $9.10 and its 200-day moving average is $10.76.

Wall Street Analysts Forecast Growth

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

Institutional Trading of EuroDry

An institutional investor recently bought a new position in EuroDry stock. B. Riley Wealth Advisors Inc. bought a new position in shares of EuroDry Ltd. (NASDAQ:EDRY) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 10,003 shares of the company’s stock, valued at approximately $112,000. B. Riley Wealth Advisors Inc. owned approximately 0.35% of EuroDry at the end of the most recent quarter. Hedge funds and other 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.