Short Interest in EuroDry Ltd. (NASDAQ:EDRY) Rises By 260.0%

EuroDry Ltd. (NASDAQ:EDRY) was the target of a significant growth in short interest in September. As of September 15th, there was short interest totalling 1,800 shares, a growth of 260.0% from the August 31st total of 500 shares. Approximately 0.1% of the company’s stock are sold short. Based on an average daily volume of 6,300 shares, the short-interest ratio is currently 0.3 days.

EuroDry Stock Down 0.6 %

Shares of EDRY traded down $0.12 on Friday, hitting $20.61. 5,542 shares of the stock traded hands, compared to its average volume of 9,268. The company has a market capitalization of $58.45 million, a PE ratio of -17.82 and a beta of 0.78. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.84 and a current ratio of 0.98. The business has a 50 day simple moving average of $20.93 and a 200 day simple moving average of $21.57. EuroDry has a one year low of $14.46 and a one year high of $24.84.

EuroDry (NASDAQ:EDRY) last issued its earnings results 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). EuroDry had a negative return on equity of 2.08% and a negative net margin of 4.11%. The company had revenue of $17.44 million during the quarter, compared to analysts’ expectations of $17.89 million. As a group, equities analysts forecast that EuroDry will post -0.65 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Institutional Investors Weigh In On EuroDry

An institutional investor recently raised its position in EuroDry stock. Linden Thomas Advisory Services LLC lifted its position in shares of EuroDry Ltd. (NASDAQ:EDRY) by 9.9% during the second quarter, according to the company in its most recent filing 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 quarter. Institutional investors and hedge funds own 2.44% of the company’s stock.

About EuroDry

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.