EuroDry Ltd. (NASDAQ:EDRY – Get Free Report) was the target of a large drop in short interest during the month of November. As of November 15th, there was short interest totalling 700 shares, a drop of 12.5% from the October 31st total of 800 shares. Based on an average trading volume of 5,400 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.1% of the shares of the company are short sold.
Hedge Funds Weigh In On EuroDry
A hedge fund recently raised its stake in EuroDry stock. Renaissance Technologies LLC lifted its position in shares of EuroDry Ltd. (NASDAQ:EDRY – Free Report) by 1.7% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 55,100 shares of the company’s stock after buying an additional 900 shares during the quarter. Renaissance Technologies LLC owned approximately 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 Stock Performance
Shares of EDRY stock remained flat at $13.41 during mid-day trading on Tuesday. 6,180 shares of the stock were exchanged, compared to its average volume of 8,666. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.84 and a quick ratio of 0.74. EuroDry has a 12-month low of $11.09 and a 12-month high of $24.84. The firm’s 50 day moving average price is $17.60 and its 200 day moving average price is $20.37.
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.
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