EuroDry Ltd (NASDAQ:EDRY) Short Interest Down 50.0% in March

EuroDry Ltd (NASDAQ:EDRY) was the recipient of a significant decrease in short interest during the month of March. As of March 13th, there was short interest totalling 700 shares, a decrease of 50.0% from the February 27th total of 1,400 shares. Based on an average daily volume of 1,800 shares, the short-interest ratio is currently 0.4 days. Currently, 0.1% of the shares of the stock are short sold.

Several equities research analysts have weighed in on the company. Noble Financial restated a “buy” rating and set a $11.44 target price on shares of EuroDry in a research note on Sunday, February 16th. Maxim Group cut their target price on EuroDry from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Friday, February 14th. ValuEngine cut EuroDry from a “buy” rating to a “hold” rating in a research note on Tuesday, March 3rd. Finally, Zacks Investment Research cut EuroDry from a “buy” rating to a “hold” rating in a research note on Friday, March 13th.

NASDAQ EDRY traded up $0.29 on Thursday, hitting $4.90. 3,900 shares of the company’s stock were exchanged, compared to its average volume of 1,521. The stock has a 50-day moving average of $5.47 and a 200-day moving average of $7.13. The company has a current ratio of 0.86, a quick ratio of 0.81 and a debt-to-equity ratio of 1.19. EuroDry has a 52 week low of $3.57 and a 52 week high of $10.90. The stock has a market cap of $10.51 million, a price-to-earnings ratio of -5.70 and a beta of -0.33.

EuroDry (NASDAQ:EDRY) last released its earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.62. EuroDry had a negative return on equity of 0.23% and a negative net margin of 1.67%. The firm had revenue of $7.61 million during the quarter.

About EuroDry

EuroDry Ltd., through its subsidiaries, provides ocean-going transportation services worldwide. The company owns and operates drybulk carriers that transport major bulks, such as iron ore, coal, and grains; and minor bulks comprising bauxite, phosphate, and fertilizers. As of November 15, 2018, it operated a fleet of six vessels, including one Ultramax, two Kamsarmax, and three Panamax drybulk carriers with a cargo capacity of 453,086 deadweight tons.

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