Key Points
- EuroDry director Aristeidis Pittas bought 500 shares on June 22 at an average price of $22.00, a transaction worth $11,000. After the purchase, he directly owned 77,667 shares.
- EDRY stock was trading up 15.0% with shares opening at $23.18, above both its 50-day moving average of $21.94 and 200-day moving average of $18.10.
- EuroDry recently missed earnings expectations, posting $0.12 EPS versus the $0.42 estimate and revenue of $12.79 million versus $15.62 million expected. Analysts currently have an average Hold rating with a $23.50 target price.
EuroDry (NASDAQ:EDRY - Get Free Report) Director Aristeidis Pittas bought 500 shares of the stock in a transaction dated Monday, June 22nd. The shares were purchased at an average price of $22.00 per share, with a total value of $11,000.00. Following the completion of the transaction, the director directly owned 77,667 shares in the company, valued at approximately $1,708,674. The trade was a 0.65% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
EuroDry Trading Up 15.0%
EDRY stock opened at $23.18 on Wednesday. The firm has a fifty day moving average price of $21.94 and a 200 day moving average price of $18.10. EuroDry has a fifty-two week low of $8.95 and a fifty-two week high of $28.00. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.55 and a current ratio of 1.61. The firm has a market cap of $66.99 million, a PE ratio of -178.31 and a beta of 0.71.
EuroDry (NASDAQ:EDRY - Get Free Report) last released its quarterly earnings results on Wednesday, May 20th. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.42 by ($0.30). The business had revenue of $12.79 million for the quarter, compared to analysts' expectations of $15.62 million. EuroDry had a negative net margin of 0.55% and a negative return on equity of 0.88%. Sell-side analysts anticipate that EuroDry will post 3.87 earnings per share for the current fiscal year.
Institutional Trading of EuroDry
A hedge fund recently raised its position in EuroDry stock. Renaissance Technologies LLC increased its holdings in shares of EuroDry (NASDAQ:EDRY - Free Report) by 53.6% in the first quarter, according to its most recent filing with the SEC. The fund owned 60,347 shares of the company's stock after acquiring an additional 21,047 shares during the period. Renaissance Technologies LLC owned about 2.09% of EuroDry worth $1,189,000 at the end of the most recent quarter. Institutional investors own 2.44% of the company's stock.
Analyst Upgrades and Downgrades
Several brokerages have recently issued reports on EDRY. Weiss Ratings cut shares of EuroDry from a "sell (d+)" rating to a "sell (d-)" rating in a research report on Tuesday, May 26th. Wall Street Zen upgraded EuroDry from a "buy" rating to a "strong-buy" rating in a research report on Sunday, May 3rd. Finally, Zacks Research cut EuroDry from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 24th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $23.50.
Read Our Latest Research Report on EuroDry
EuroDry Company Profile
(
Get Free Report)
EuroDry Limited is a Marshall Islands–incorporated shipping company, formed in 2005 and headquartered in Piraeus, Greece. The company is publicly traded on the NASDAQ under the symbol EDRY. Since its inception, EuroDry has focused exclusively on the marine transportation of drybulk commodities and has grown its fleet through a combination of newbuilding contracts and second-hand acquisitions.
As of mid-2024, EuroDry's operating fleet comprises Capesize, Panamax and Supramax drybulk carriers, collectively providing over one million deadweight tons (dwt) of capacity.
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