EuroDry Ltd. (NASDAQ:EDRY) Sees Large Growth in Short Interest

EuroDry Ltd. (NASDAQ:EDRY) was the recipient of a significant increase in short interest in April. As of April 15th, there was short interest totalling 300 shares, an increase of 50.0% from the March 31st total of 200 shares. Approximately 0.0% of the company’s stock are sold short. Based on an average daily trading volume, of 8,500 shares, the days-to-cover ratio is currently 0.0 days.

EuroDry Stock Up 0.7 %

Shares of NASDAQ:EDRY traded up $0.15 during midday trading on Friday, reaching $20.58. 3,092 shares of the company were exchanged, compared to its average volume of 5,051. The firm has a market cap of $58.45 million, a PE ratio of -19.79 and a beta of 0.71. The company has a quick ratio of 0.79, a current ratio of 0.95 and a debt-to-equity ratio of 0.72. EuroDry has a fifty-two week low of $13.42 and a fifty-two week high of $23.98. The stock has a fifty day simple moving average of $21.42 and a two-hundred day simple moving average of $19.40.

EuroDry (NASDAQ:EDRY) last released its quarterly earnings results on Thursday, February 15th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.45. The firm had revenue of $15.90 million for the quarter, compared to the consensus estimate of $11.70 million. EuroDry had a positive return on equity of 0.30% and a negative net margin of 6.11%. As a group, sell-side analysts forecast that EuroDry will post 2.15 earnings per share for the current year.

Institutional Investors Weigh In On EuroDry

A hedge fund recently raised its stake in EuroDry stock. Linden Thomas Advisory Services LLC grew its holdings in EuroDry Ltd. (NASDAQ:EDRY) by 14.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,555 shares of the company’s stock after purchasing an additional 1,612 shares during the period. Linden Thomas Advisory Services LLC owned about 0.44% of EuroDry worth $193,000 at the end of the most recent quarter. Institutional investors own 2.44% of the company’s stock.

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.