Insider Selling: EuroDry (NASDAQ:EDRY) Director Sells $18,900.00 in Stock

EuroDry (NASDAQ:EDRY) Director Aristeidis Pittas sold 500 shares of the company’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $37.80, for a total transaction of $18,900.00. Following the completion of the transaction, the director owned 76,463 shares in the company, valued at approximately $2,890,301.40. This trade represents a 0.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

EuroDry Trading Up 1.8%

NASDAQ EDRY traded up $0.70 during trading hours on Wednesday, hitting $39.10. 78,078 shares of the company’s stock were exchanged, compared to its average volume of 39,888. The business’s 50 day moving average is $24.17 and its 200-day moving average is $20.95. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.23 and a current ratio of 1.28. EuroDry has a 12-month low of $10.18 and a 12-month high of $40.00. The firm has a market capitalization of $113.04 million, a P/E ratio of 11.81 and a beta of 0.68.

EuroDry (NASDAQ:EDRY) last issued its earnings results on Thursday, August 6th. The company reported $2.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $1.21. EuroDry had a return on equity of 8.77% and a net margin of 15.02%.The business had revenue of $17.70 million during the quarter, compared to analysts’ expectations of $17.86 million. As a group, analysts anticipate that EuroDry will post 5.77 EPS for the current fiscal year.

Analyst Ratings Changes

EDRY has been the topic of a number of research analyst reports. Weiss Ratings downgraded shares of EuroDry from a “sell (d+)” rating to a “sell (d-)” rating in a research note on Tuesday, May 26th. Wall Street Zen upgraded shares of EuroDry from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 3rd. Alliance Global Partners reaffirmed a “buy” rating on shares of EuroDry in a research report on Friday, August 7th. Finally, Zacks Research upgraded EuroDry from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $23.50.

Institutional Investors Weigh In On EuroDry

A hedge fund recently bought a new position in EuroDry stock. BlackRock Inc. acquired a new stake in shares of EuroDry (NASDAQ:EDRY) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,135 shares of the company’s stock, valued at approximately $47,000. BlackRock Inc. owned approximately 0.07% of EuroDry as of its most recent SEC filing. 2.44% of the stock is currently owned by hedge funds and other institutional investors.

EuroDry Company Profile

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.