EuroDry (NASDAQ:EDRY) Director Aristeidis Pittas Buys 700 Shares of Company Stock

EuroDry (NASDAQ:EDRY) Director Aristeidis Pittas purchased 700 shares of the business’s stock in a transaction that occurred on Tuesday, October 13th. The shares were bought at an average price of $51.18 per share, for a total transaction of $35,826.00. Following the completion of the purchase, the director directly owned 76,788 shares in the company, valued at $3,930,009.84. This represents a 0.92% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

EuroDry Price Performance

Shares of EDRY opened at $50.82 on Thursday. EuroDry has a 1-year low of $11.94 and a 1-year high of $73.07. The stock has a market cap of $145.70 million, a PE ratio of 15.35 and a beta of 0.77. 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 firm has a fifty day moving average price of $52.41 and a 200 day moving average price of $32.81.

EuroDry (NASDAQ:EDRY) last released its quarterly earnings data 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 company had revenue of $17.70 million during the quarter, compared to the consensus estimate of $17.86 million. EuroDry had a net margin of 15.02% and a return on equity of 8.77%. As a group, sell-side analysts anticipate that EuroDry will post 5.77 EPS for the current year.

Institutional Trading of EuroDry

A number of large investors have recently bought and sold shares of EDRY. Renaissance Technologies LLC grew its position in EuroDry by 53.6% during the 1st quarter. Renaissance Technologies LLC now owns 60,347 shares of the company’s stock worth $1,189,000 after purchasing an additional 21,047 shares during the last quarter. MassMutual Private Wealth & Trust FSB purchased a new stake in shares of EuroDry in the third quarter valued at about $32,000. Finally, BlackRock Inc. purchased a new stake in shares of EuroDry in the second quarter valued at about $47,000. Institutional investors and hedge funds own 2.44% of the company’s stock.

Wall Street Analyst Weigh In

EDRY has been the subject of several research reports. Zacks Research downgraded EuroDry from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 6th. Alliance Global Partners reaffirmed a “buy” rating on shares of EuroDry in a research report on Friday, August 7th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of EuroDry in a research note on Friday, August 21st. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $23.50.

EuroDry Company Profile

EuroDry Ltd. is a dry bulk shipping company that owns and operates vessels used to transport major and minor bulk commodities worldwide. Its fleet serves international trade routes and carries cargoes such as iron ore, grains, coal, steel products, and other dry bulk materials.

The company operates vessels in several dry bulk segments, including Handysize, Supramax, Ultramax, and Panamax ships. EuroDry manages the commercial and technical operations of its vessels through a combination of voyage charters, time charters, and other employment arrangements, depending on market conditions and customer requirements.

EuroDry was established in 1997 and is headquartered in Maroussi, Greece.