EuroDry (NASDAQ:EDRY) Director Sells $90,534.60 in Stock

EuroDry (NASDAQ:EDRY) Director Panagiotis Kyriakopoulos sold 2,067 shares of the company’s stock in a transaction dated Monday, October 26th. The stock was sold at an average price of $43.80, for a total transaction of $90,534.60. Following the completion of the sale, the director owned 8,400 shares in the company, valued at approximately $367,920. This trade represents a 19.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

EuroDry Price Performance

Shares of NASDAQ EDRY opened at $44.79 on Friday. EuroDry has a fifty-two week low of $12.09 and a fifty-two week high of $73.07. The company has a 50 day simple moving average of $53.80 and a two-hundred day simple moving average of $29.47. The company has a market capitalization of $128.41 million, a price-to-earnings ratio of 13.53 and a beta of 0.77. 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 (NASDAQ:EDRY) last released its earnings results on Thursday, August 6th. The company reported $2.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $1.21. The firm had revenue of $17.70 million during the quarter, compared to analyst estimates of $17.86 million. EuroDry had a net margin of 15.02% and a return on equity of 8.77%. Analysts expect that EuroDry will post 5.77 EPS for the current fiscal year.

Institutional Trading of EuroDry

Institutional investors have recently added to or reduced their stakes in the business. MassMutual Private Wealth & Trust FSB purchased a new position in shares of EuroDry in the third quarter worth $32,000. BlackRock Inc. bought a new position in shares of EuroDry during the second quarter valued at $47,000. Sowell Financial Services LLC bought a new position in shares of EuroDry during the third quarter valued at $592,000. Finally, Renaissance Technologies LLC boosted its position in shares of EuroDry by 53.6% during the first quarter. Renaissance Technologies LLC now owns 60,347 shares of the company’s stock valued at $1,189,000 after buying an additional 21,047 shares during the last quarter. 2.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

EDRY has been the topic of a number of recent research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of EuroDry in a research note on Friday, August 21st. Alliance Global Partners restated a “buy” rating on shares of EuroDry in a report on Friday, August 7th. Finally, Zacks Research lowered EuroDry from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 6th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, EuroDry has an average rating of “Hold” and an average target price of $23.50.

EuroDry Company Profile

EuroDry Ltd. (NASDAQ: EDRY) is a dry bulk shipping company that owns and operates vessels used to transport a range of essential commodities. Its cargoes may include iron ore, grain, coal, steel products, forest products and other dry bulk materials.

The company’s fleet has primarily consisted of smaller dry bulk vessels, including Handy-size and Supramax-class ships. These vessels serve international trade routes and are employed through time charters, voyage charters and other commercial arrangements, depending on market conditions and customer requirements.

EuroDry was established in 1997 and is managed from offices in Athens, Greece.