EuroDry (NASDAQ:EDRY) Trading Down 8.3% – Here’s What Happened

EuroDry Ltd. (NASDAQ:EDRY) traded down 8.3% during trading on Thursday . The company traded as low as $10.00 and last traded at $10.00. 4,749 shares changed hands during mid-day trading, a decline of 44% from the average session volume of 8,446 shares. The stock had previously closed at $10.90.

Analyst Upgrades and Downgrades

Separately, Noble Financial cut shares of EuroDry from an “outperform” rating to a “market perform” rating in a research note on Friday, February 7th.

EuroDry Trading Down 14.9 %

The firm has a market cap of $24.15 million, a price-to-earnings ratio of -3.87 and a beta of 0.72. The company has a fifty day moving average price of $10.87 and a 200-day moving average price of $13.74. The company has a current ratio of 0.84, a quick ratio of 0.74 and a debt-to-equity ratio of 0.74.

Hedge Funds Weigh In On EuroDry

An institutional investor recently raised its position in EuroDry stock. Linden Thomas Advisory Services LLC grew its position in EuroDry Ltd. (NASDAQ:EDRY) by 16.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 29,693 shares of the company’s stock after acquiring an additional 4,289 shares during the period. Linden Thomas Advisory Services LLC owned about 1.05% of EuroDry worth $333,000 at the end of the most recent quarter. Institutional investors own 2.44% of the company’s stock.

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.