EuroDry Ltd. (NASDAQ:EDRY) Short Interest Update

EuroDry Ltd. (NASDAQ:EDRY) was the target of a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 800 shares, a decline of 63.6% from the October 15th total of 2,200 shares. Based on an average trading volume of 4,600 shares, the short-interest ratio is currently 0.2 days. Currently, 0.1% of the company’s stock are sold short.

EuroDry Stock Performance

EDRY traded up $0.01 during midday trading on Thursday, hitting $14.99. 3,985 shares of the company were exchanged, compared to its average volume of 8,677. The firm has a market capitalization of $42.51 million, a price-to-earnings ratio of -17.42 and a beta of 0.80. The company’s 50 day simple moving average is $19.15 and its 200 day simple moving average is $20.98. The company has a current ratio of 0.98, a quick ratio of 0.84 and a debt-to-equity ratio of 0.72. EuroDry has a 1-year low of $14.62 and a 1-year 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

A hedge fund recently raised its stake in EuroDry stock. Linden Thomas Advisory Services LLC boosted its holdings in shares of EuroDry Ltd. (NASDAQ:EDRY) by 9.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,570 shares of the company’s stock after purchasing an additional 1,944 shares during the quarter. Linden Thomas Advisory Services LLC owned approximately 0.76% of EuroDry worth $530,000 at the end of the most recent reporting period. 2.44% of the stock is owned by institutional investors and hedge funds.

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.