Aristeidis Pittas Sells 600 Shares of EuroDry (NASDAQ:EDRY) Stock

EuroDry (NASDAQ:EDRY) Director Aristeidis Pittas sold 600 shares of EuroDry stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $39.50, for a total value of $23,700.00. Following the completion of the sale, the director owned 76,163 shares of the company’s stock, valued at $3,008,438.50. This trade represents a 0.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

EuroDry Trading Up 0.3%

NASDAQ EDRY opened at $43.43 on Friday. The company has a market cap of $125.56 million, a P/E ratio of 13.12 and a beta of 0.68. EuroDry has a 12 month low of $10.51 and a 12 month high of $44.44. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.28 and a quick ratio of 1.23. The company has a 50-day moving average of $26.69 and a 200-day moving average of $22.25.

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

Institutional Trading of EuroDry

An institutional investor recently raised its stake in EuroDry stock. Renaissance Technologies LLC raised its stake in EuroDry (NASDAQ:EDRY) by 53.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent quarter. Institutional investors and hedge funds own 2.44% of the company’s stock.

Wall Street Analyst Weigh In

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

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.