Short Interest in EuroDry Ltd. (NASDAQ:EDRY) Rises By 260.0%

EuroDry Ltd. (NASDAQ:EDRY) was the target of a large growth in short interest in the month of September. As of September 15th, there was short interest totalling 1,800 shares, a growth of 260.0% from the August 31st total of 500 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average trading volume of 6,300 shares, the days-to-cover ratio is presently 0.3 days.

Wall Street Analyst Weigh In

Separately, Noble Financial raised shares of EuroDry to a “strong-buy” rating in a report on Monday, July 29th.

Institutional Trading of EuroDry

An institutional investor recently raised its position in EuroDry stock. Linden Thomas Advisory Services LLC increased its stake in EuroDry Ltd. (NASDAQ:EDRY) by 9.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,570 shares of the company’s stock after buying an additional 1,944 shares during the period. Linden Thomas Advisory Services LLC owned 0.76% of EuroDry worth $530,000 at the end of the most recent reporting period. 2.44% of the stock is currently owned by institutional investors and hedge funds.

EuroDry Price Performance

EDRY traded down $0.12 during trading on Friday, reaching $20.61. The stock had a trading volume of 5,542 shares, compared to its average volume of 9,268. The stock has a market cap of $58.45 million, a PE ratio of -17.82 and a beta of 0.78. 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 one year low of $14.46 and a one year high of $24.84. The business has a 50-day moving average of $20.93 and a 200-day moving average of $21.57.

EuroDry (NASDAQ:EDRY) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.75). EuroDry had a negative net margin of 4.11% and a negative return on equity of 2.08%. The business had revenue of $17.44 million for the quarter, compared to analysts’ expectations of $17.89 million. As a group, equities research analysts anticipate that EuroDry will post -0.65 EPS for the current fiscal year.

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.