Insider Selling: EuroDry (NASDAQ:EDRY) Director Sells 2,950 Shares of Stock

EuroDry (NASDAQ:EDRY) Director Aristeidis Pittas sold 2,950 shares of the business’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $50.76, for a total value of $149,742.00. Following the completion of the transaction, the director owned 33,020 shares in the company, valued at $1,676,095.20. The trade was a 8.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

EuroDry Stock Performance

Shares of EDRY stock traded up $1.10 during trading on Thursday, hitting $49.70. The company’s stock had a trading volume of 71,913 shares, compared to its average volume of 47,340. The company has a current ratio of 1.28, a quick ratio of 1.23 and a debt-to-equity ratio of 0.69. The company has a market cap of $143.69 million, a PE ratio of 15.02 and a beta of 0.68. The business has a fifty day moving average of $28.76 and a 200-day moving average of $23.29. EuroDry has a 52 week low of $10.70 and a 52 week high of $53.93.

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

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of EuroDry in a report on Friday, August 21st. Zacks Research upgraded shares of EuroDry from a “hold” rating to a “strong-buy” rating in a report on Friday, July 10th. Wall Street Zen raised shares of EuroDry from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 3rd. Finally, Alliance Global Partners reiterated a “buy” rating on shares of EuroDry in a research note on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $23.50.

Institutional Trading of EuroDry

A hedge fund recently bought a new stake in EuroDry stock. BlackRock Inc. purchased a new position in shares of EuroDry (NASDAQ:EDRY) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 2,135 shares of the company’s stock, valued at approximately $47,000. BlackRock Inc. owned 0.07% of EuroDry as of its most recent filing with the SEC. Institutional investors own 2.44% of the company’s stock.

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.