EuroDry (NASDAQ:EDRY) Director Aristeidis Pittas Sells 600 Shares

EuroDry (NASDAQ:EDRY) Director Aristeidis Pittas sold 600 shares of EuroDry stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $39.50, for a total value of $23,700.00. Following the transaction, the director directly owned 76,163 shares in the company, valued at $3,008,438.50. The trade was a 0.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

EuroDry Trading Up 4.3%

Shares of EDRY stock opened at $43.29 on Thursday. EuroDry has a 1-year low of $10.51 and a 1-year high of $44.00. The company has a current ratio of 1.28, a quick ratio of 1.23 and a debt-to-equity ratio of 0.69. The stock has a market cap of $125.11 million, a price-to-earnings ratio of 13.08 and a beta of 0.68. The stock has a 50-day moving average of $26.27 and a 200-day moving average of $22.05.

EuroDry (NASDAQ:EDRY) last released its earnings results on Thursday, August 6th. The company reported $2.44 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $17.86 million. On average, equities research analysts forecast that EuroDry will post 5.77 earnings per share for the current year.

Hedge Funds Weigh In On EuroDry

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

Analysts Set New Price Targets

EDRY has been the subject of a number of recent analyst reports. Alliance Global Partners reiterated a “buy” rating on shares of EuroDry in a report on Friday, August 7th. Zacks Research raised EuroDry from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 10th. Wall Street Zen upgraded EuroDry from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 3rd. 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 issued a Sell rating to the stock. According to MarketBeat.com, EuroDry presently has a consensus rating of “Moderate Buy” and an average price target of $23.50.

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.