Short Interest in EuroDry Ltd. (NASDAQ:EDRY) Grows By 225.0%

EuroDry Ltd. (NASDAQ:EDRY) saw a large growth in short interest in the month of January. As of January 31st, there was short interest totalling 11,700 shares, a growth of 225.0% from the January 15th total of 3,600 shares. Approximately 0.9% of the shares of the company are sold short. Based on an average daily volume of 9,300 shares, the short-interest ratio is presently 1.3 days.

EuroDry Price Performance

EDRY stock traded down $0.12 during mid-day trading on Wednesday, reaching $10.70. 1,290 shares of the company traded hands, compared to its average volume of 7,185. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.84 and a quick ratio of 0.74. The company has a market capitalization of $30.39 million, a P/E ratio of -4.86 and a beta of 0.76. The company has a fifty day moving average price of $11.48 and a 200-day moving average price of $16.28. EuroDry has a 52-week low of $10.04 and a 52-week high of $24.84.

Hedge Funds Weigh In On EuroDry

An institutional investor recently raised its position in EuroDry stock. Linden Thomas Advisory Services LLC boosted 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 Securities and Exchange Commission. The institutional investor owned 29,693 shares of the company’s stock after purchasing an additional 4,289 shares during the quarter. Linden Thomas Advisory Services LLC owned approximately 1.05% of EuroDry worth $333,000 at the end of the most recent quarter. 2.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

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.