EuroDry (NASDAQ:EDRY) Insider Sells $122,560.80 in Stock

EuroDry (NASDAQ:EDRY) insider Symeon Pariaros sold 2,676 shares of the stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $45.80, for a total value of $122,560.80. Following the transaction, the insider owned 1,900 shares in the company, valued at approximately $87,020. This trade represents a 58.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Symeon Pariaros also recently made the following trade(s):

• On Tuesday, August 18th, Symeon Pariaros sold 2,700 shares of EuroDry stock. The shares were sold at an average price of $42.00, for a total transaction of $113,400.00.
• On Wednesday, August 12th, Symeon Pariaros sold 1,900 shares of EuroDry stock. The stock was sold at an average price of $39.98, for a total transaction of $75,962.00.

EuroDry Price Performance

NASDAQ EDRY opened at $48.60 on Thursday. 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 company has a fifty day simple moving average of $28.76 and a 200 day simple moving average of $23.29. The company has a market cap of $140.50 million, a P/E ratio of 14.68 and a beta of 0.68. EuroDry has a 1 year low of $10.62 and a 1 year high of $53.93.

EuroDry (NASDAQ:EDRY) last released its earnings results on Thursday, August 6th. The company reported $2.44 earnings per share for the quarter, topping 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 firm had revenue of $17.70 million during the quarter, compared to analyst estimates of $17.86 million. On average, sell-side analysts predict that EuroDry will post 5.77 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on EDRY. Wall Street Zen upgraded EuroDry from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of EuroDry in a research report on Friday, August 21st. Alliance Global Partners reiterated a “buy” rating on shares of EuroDry in a report on Friday, August 7th. Finally, Zacks Research raised EuroDry from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $23.50.

Institutional Inflows and Outflows

A hedge fund recently raised its position in EuroDry stock. Renaissance Technologies LLC increased its holdings in shares of EuroDry (NASDAQ:EDRY) by 53.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 60,347 shares of the company’s stock after acquiring an additional 21,047 shares during the period. Renaissance Technologies LLC owned about 2.09% of EuroDry worth $1,189,000 at the end of the most recent quarter. 2.44% of the stock is currently owned by institutional investors and hedge funds.

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.