EuroDry (NASDAQ:EDRY) Insider Sells $15,400.00 in Stock

EuroDry (NASDAQ:EDRY) insider Stefania Karmiri sold 400 shares of the stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $38.50, for a total value of $15,400.00. Following the transaction, the insider owned 850 shares in the company, valued at approximately $32,725. This trade represents a 32.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

EuroDry Trading Down 5.4%

NASDAQ:EDRY opened at $36.57 on Friday. EuroDry has a 12 month low of $10.18 and a 12 month high of $40.00. The firm has a market cap of $105.72 million, a price-to-earnings ratio of 11.05 and a beta of 0.68. The company has a quick ratio of 1.23, a current ratio of 1.28 and a debt-to-equity ratio of 0.69. The company’s 50 day moving average is $25.10 and its 200-day moving average is $21.41.

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

Wall Street Analyst Weigh In

A number of research analysts have recently commented on EDRY shares. Alliance Global Partners reiterated a “buy” rating on shares of EuroDry in a report on Friday, August 7th. Zacks Research upgraded EuroDry from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 10th. Weiss Ratings lowered EuroDry from a “sell (d+)” rating to a “sell (d-)” rating in a research note on Tuesday, May 26th. Finally, Wall Street Zen raised EuroDry from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 3rd. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, EuroDry presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.50.

Institutional Trading of EuroDry

An institutional investor recently raised its position in EuroDry stock. Renaissance Technologies LLC boosted its stake in EuroDry (NASDAQ:EDRY) by 53.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 60,347 shares of the company’s stock after purchasing an additional 21,047 shares during the quarter. Renaissance Technologies LLC owned about 2.09% of EuroDry worth $1,189,000 as of its most recent SEC filing. Institutional investors and hedge funds own 2.44% of the company’s stock.

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.