EuroDry Ltd. (NASDAQ:EDRY – Get Free Report) was the target of a significant decrease in short interest during the month of October. As of October 31st, there was short interest totalling 800 shares, a decrease of 63.6% from the October 15th total of 2,200 shares. Based on an average daily volume of 4,600 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.1% of the shares of the company are short sold.
EuroDry Price Performance
NASDAQ:EDRY traded down $0.31 during trading hours on Wednesday, hitting $14.98. The company’s stock had a trading volume of 4,718 shares, compared to its average volume of 8,699. The business’s 50-day moving average is $19.15 and its two-hundred day moving average is $20.98. The company has a market capitalization of $42.56 million, a PE ratio of -17.42 and a beta of 0.80. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.84 and a current ratio of 0.98. EuroDry has a 52-week low of $14.62 and a 52-week high of $24.84.
Analysts Set New Price Targets
Separately, Noble Financial upgraded EuroDry to a “strong-buy” rating in a research note on Monday, July 29th.
Institutional Trading of EuroDry
An institutional investor recently raised its position in EuroDry stock. Renaissance Technologies LLC boosted its holdings in EuroDry Ltd. (NASDAQ:EDRY – Free Report) by 1.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 55,100 shares of the company’s stock after buying an additional 900 shares during the period. Renaissance Technologies LLC owned 1.94% of EuroDry worth $1,353,000 at the end of the most recent reporting period. 2.44% of the stock is currently owned by institutional investors.
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.
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