Short Interest in EuroDry Ltd. (NASDAQ:EDRY) Rises By 20.3%


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EuroDry Ltd. (NASDAQ:EDRY) saw a significant increase in short interest during the month of April. As of April 15th, there was short interest totalling 7,700 shares, an increase of 20.3% from the March 31st total of 6,400 shares. Based on an average daily trading volume, of 113,900 shares, the short-interest ratio is presently 0.1 days. Currently, 0.7% of the shares of the company are sold short.

EDRY stock traded up $0.57 during trading on Tuesday, hitting $15.27. The company had a trading volume of 3,001 shares, compared to its average volume of 101,894. The business has a 50 day moving average of $9.37 and a 200 day moving average of $6.96. The firm has a market capitalization of $35.85 million, a price-to-earnings ratio of -5.83 and a beta of 0.19. The company has a current ratio of 0.38, a quick ratio of 0.32 and a debt-to-equity ratio of 1.30. EuroDry has a fifty-two week low of $2.98 and a fifty-two week high of $16.37.

EuroDry (NASDAQ:EDRY) last released its quarterly earnings results on Monday, February 15th. The company reported ($0.31) EPS for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.32. EuroDry had a negative net margin of 17.85% and a negative return on equity of 8.95%. The company had revenue of $6.41 million for the quarter, compared to the consensus estimate of $5.60 million. As a group, equities analysts predict that EuroDry will post -3.2 EPS for the current year.

An institutional investor recently bought a new position in EuroDry stock. Renaissance Technologies LLC acquired a new stake in EuroDry Ltd. (NASDAQ:EDRY) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,000 shares of the company’s stock, valued at approximately $71,000. Renaissance Technologies LLC owned 0.56% of EuroDry as of its most recent SEC filing. Hedge funds and other institutional investors own 8.05% of the company’s stock.

Separately, Zacks Investment Research cut EuroDry from a “buy” rating to a “hold” rating in a research report on Wednesday, April 21st.

EuroDry Company Profile

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 March 31, 2020, it operated a fleet of seven drybulk vessels, including four Panamax drybulk carriers, one Ultramax drybulk carrier, and two Kamsarmax carriers with a cargo capacity of 528,931 deadweight tons.

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