Insider Selling: EuroDry (NASDAQ:EDRY) Director Sells $22,280.00 in Stock

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

EuroDry Price Performance

NASDAQ:EDRY opened at $49.34 on Friday. EuroDry has a 52 week low of $10.70 and a 52 week high of $53.93. 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 firm’s 50-day simple moving average is $29.29 and its 200 day simple moving average is $23.55. The firm has a market cap of $142.59 million, a price-to-earnings ratio of 14.91 and a beta of 0.68.

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

Institutional Investors Weigh In On EuroDry

An institutional investor recently bought a new position in EuroDry stock. BlackRock Inc. acquired a new position in shares of EuroDry (NASDAQ:EDRY) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund 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 SEC filing. Institutional investors and hedge funds own 2.44% of the company’s stock.

Wall Street Analyst Weigh In

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

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.