EuroDry (NASDAQ:EDRY) Stock Price Up 0.5% – Time to Buy?

EuroDry Ltd. (NASDAQ:EDRY)’s share price was up 0.5% during trading on Monday . The company traded as high as $10.83 and last traded at $10.71. Approximately 48,974 shares were traded during trading, an increase of 447% from the average daily volume of 8,950 shares. The stock had previously closed at $10.66.

EuroDry Price Performance

The stock’s 50 day simple moving average is $15.32 and its 200-day simple moving average is $19.44. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.84 and a quick ratio of 0.74. The company has a market capitalization of $30.37 million, a PE ratio of -4.87 and a beta of 0.73.

Institutional Trading of EuroDry

A hedge fund recently raised its stake in EuroDry stock. Renaissance Technologies LLC boosted its stake in shares of EuroDry Ltd. (NASDAQ:EDRY) by 1.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 55,100 shares of the company’s stock after purchasing an additional 900 shares during the quarter. Renaissance Technologies LLC owned approximately 1.94% of EuroDry worth $1,353,000 as of its most recent SEC filing. 2.44% of the stock is currently owned by hedge funds and other institutional investors.

About EuroDry

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.