Short Interest in EuroDry (NASDAQ:EDRY) Declines By 22.7%

EuroDry (NASDAQ:EDRY) saw a large decrease in short interest in April. As of April 15th, there was short interest totaling 5,389 shares, a decrease of 22.7% from the March 31st total of 6,976 shares. Based on an average daily volume of 28,409 shares, the short-interest ratio is presently 0.2 days. Approximately 0.4% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Weiss Ratings restated a “sell (d-)” rating on shares of EuroDry in a research report on Tuesday, April 21st. Noble Financial upgraded EuroDry from a “market perform” rating to an “outperform” rating and set a $23.50 target price on the stock in a research report on Thursday, February 12th. Zacks Research lowered EuroDry from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 24th. Finally, Wall Street Zen lowered EuroDry from a “strong-buy” rating to a “buy” rating in a research report on Saturday, April 25th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $23.50.

EuroDry Stock Down 0.9%

EDRY stock traded down $0.17 during trading on Thursday, reaching $19.52. 9,482 shares of the stock were exchanged, compared to its average volume of 23,674. The firm’s 50 day moving average is $20.01 and its 200 day moving average is $15.58. EuroDry has a twelve month low of $7.60 and a twelve month high of $23.98. The company has a current ratio of 1.53, a quick ratio of 1.46 and a debt-to-equity ratio of 0.89. The firm has a market cap of $56.43 million, a P/E ratio of -12.43 and a beta of 0.89.

EuroDry (NASDAQ:EDRY) last posted its quarterly earnings results on Thursday, February 19th. The company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.09. EuroDry had a negative return on equity of 6.83% and a negative net margin of 8.16%.The business had revenue of $17.39 million for the quarter, compared to the consensus estimate of $17.77 million. As a group, research analysts forecast that EuroDry will post 2.98 EPS for the current year.

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.