EuroDry (NASDAQ:EDRY) Director Aristeidis Pittas Sells 500 Shares of Stock

EuroDry (NASDAQ:EDRY) Director Aristeidis Pittas sold 500 shares of EuroDry stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $44.56, for a total value of $22,280.00. Following the sale, the director directly owned 75,913 shares in the company, valued at approximately $3,382,683.28. The trade was a 0.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

EuroDry Stock Up 3.8%

EDRY stock opened at $53.69 on Wednesday. EuroDry has a fifty-two week low of $10.62 and a fifty-two week high of $53.93. The business’s 50 day moving average price is $28.28 and its two-hundred day moving average price is $23.04. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.23 and a current ratio of 1.28. The company has a market capitalization of $155.16 million, a price-to-earnings ratio of 16.22 and a beta of 0.68.

EuroDry (NASDAQ:EDRY) last announced its earnings results on Thursday, August 6th. The company reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $1.21. EuroDry had a return on equity of 8.77% and a net margin of 15.02%.The firm had revenue of $17.70 million during the quarter, compared to analyst estimates of $17.86 million. As a group, analysts forecast that EuroDry will post 5.77 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

EDRY has been the topic of a number of recent research reports. Alliance Global Partners reaffirmed a “buy” rating on shares of EuroDry in a research report on Friday, August 7th. Zacks Research raised shares of EuroDry from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 10th. Wall Street Zen upgraded shares of EuroDry from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 3rd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of EuroDry in a research note on Friday. One research 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 a consensus rating of “Moderate Buy” and a consensus price target of $23.50.

Hedge Funds Weigh In On EuroDry

An institutional investor recently bought a new stake in EuroDry stock. BlackRock Inc. acquired a new stake in shares of EuroDry (NASDAQ:EDRY) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 2,135 shares of the company’s stock, valued at approximately $47,000. BlackRock Inc. owned about 0.07% of EuroDry as of its most recent filing with the SEC. 2.44% of the stock is owned by institutional investors.

EuroDry Company Profile

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.