EuroDry (NASDAQ:EDRY) Short Interest Update

EuroDry (NASDAQ:EDRY) was the target of a significant growth in short interest during the month of February. As of February 13th, there was short interest totaling 2,196 shares, a growth of 113.6% from the January 29th total of 1,028 shares. Based on an average daily volume of 3,321 shares, the days-to-cover ratio is presently 0.7 days. Based on an average daily volume of 3,321 shares, the days-to-cover ratio is presently 0.7 days.

Wall Street Analysts Forecast Growth

EDRY has been the topic of several recent research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of EuroDry in a research note on Thursday, January 22nd. Zacks Research upgraded shares of EuroDry from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 13th. Finally, Noble Financial upgraded shares of EuroDry from a “market perform” rating to an “outperform” rating and set a $23.50 price objective for the company in a research report on Thursday, February 12th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $23.50.

EuroDry Price Performance

Shares of NASDAQ:EDRY traded down $0.29 on Friday, reaching $21.33. 15,350 shares of the company were exchanged, compared to its average volume of 11,041. The company has a 50-day moving average of $14.22 and a 200-day moving average of $12.96. The company has a current ratio of 1.53, a quick ratio of 1.21 and a debt-to-equity ratio of 0.89. The firm has a market cap of $60.58 million, a price-to-earnings ratio of -13.24 and a beta of 0.94. EuroDry has a 1-year low of $7.60 and a 1-year high of $21.99.

EuroDry (NASDAQ:EDRY) last released its quarterly earnings data on Thursday, February 19th. The company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.09. EuroDry had a negative net margin of 8.16% and a negative return on equity of 6.83%. The firm had revenue of $17.39 million for the quarter, compared to the consensus estimate of $17.77 million. Equities analysts forecast that EuroDry will post -2.84 earnings per share for the current fiscal year.

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.