EuroDry Ltd. (NASDAQ:EDRY) Sees Large Growth in Short Interest

EuroDry Ltd. (NASDAQ:EDRY) was the recipient of a large increase in short interest in the month of October. As of October 15th, there was short interest totalling 2,200 shares, an increase of 120.0% from the September 30th total of 1,000 shares. Based on an average daily trading volume, of 5,200 shares, the short-interest ratio is currently 0.4 days. Currently, 0.2% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

Separately, Noble Financial upgraded shares of EuroDry to a “strong-buy” rating in a report on Monday, July 29th.

Institutional Trading of EuroDry

An institutional investor recently raised its position in EuroDry stock. Linden Thomas Advisory Services LLC lifted its stake in shares of EuroDry Ltd. (NASDAQ:EDRY) by 9.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 21,570 shares of the company’s stock after buying an additional 1,944 shares during the quarter. Linden Thomas Advisory Services LLC owned approximately 0.76% of EuroDry worth $530,000 at the end of the most recent reporting period. 2.44% of the stock is owned by institutional investors.

EuroDry Trading Down 0.4 %

EDRY traded down $0.08 on Friday, hitting $18.92. The company had a trading volume of 2,383 shares, compared to its average volume of 4,226. The firm has a market cap of $53.74 million, a P/E ratio of -22.00 and a beta of 0.78. EuroDry has a 1 year low of $14.46 and a 1 year high of $24.84. The company’s fifty day moving average price is $20.17 and its 200 day moving average price is $21.33. The company has a current ratio of 0.98, a quick ratio of 0.84 and a debt-to-equity ratio of 0.72.

EuroDry (NASDAQ:EDRY) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.75). The company had revenue of $17.44 million during the quarter, compared to analysts’ expectations of $17.89 million. EuroDry had a negative net margin of 4.11% and a negative return on equity of 2.08%. As a group, equities analysts expect that EuroDry will post -0.65 earnings per share for the current year.

EuroDry Company Profile

EuroDry Ltd., through its subsidiaries, provides ocean-going transportation services worldwide. It owns and operates a fleet of drybulk carriers that transport major bulks, such as iron ore, coal, and grains; and minor bulks, including bauxite, phosphate, and fertilizers. The company fleet consisted of 13 drybulk carriers comprising five Panamax drybulk carriers, two Kamsarmax, five Ultramax drybulk carriers, and one Supramax drybulk carrier with a total cargo carrying capacity of 918,502 dwt.