EuroDry Ltd. (NASDAQ:EDRY) Short Interest Update

EuroDry Ltd. (NASDAQ:EDRY) was the target of a significant decrease in short interest in October. As of October 31st, there was short interest totalling 800 shares, a decrease of 63.6% from the October 15th total of 2,200 shares. Based on an average daily trading volume, of 4,600 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.1% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On EuroDry

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

EuroDry Trading Up 0.0 %

Shares of EDRY traded up $0.01 during mid-day trading on Thursday, reaching $14.99. The stock had a trading volume of 3,985 shares, compared to its average volume of 8,677. EuroDry has a 52-week low of $14.62 and a 52-week high of $24.84. The firm has a market cap of $42.51 million, a price-to-earnings ratio of -17.42 and a beta of 0.80. The business’s fifty day moving average is $19.15 and its 200 day moving average is $20.98. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.98 and a quick ratio of 0.84.

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.