Key Points
- Insider sale: Symeon Pariaros sold 2,700 EuroDry shares for $113,400 at an average price of $42.00, reducing his holdings by 37.11% to 4,576 shares. He also sold 1,900 shares for $75,962 on August 12.
- Strong recent performance: EuroDry reported quarterly EPS of $2.44, beating the $1.23 analyst consensus, while shares opened at $43.29 near their 52-week high of $44.00.
- Mixed analyst outlook: The stock carries a “Moderate Buy” consensus rating with a $23.50 target price, despite upgrades from several firms and a downgrade from Weiss Ratings.
EuroDry (NASDAQ:EDRY - Get Free Report) Director Aristeidis Pittas sold 600 shares of the business's stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $39.50, for a total value of $23,700.00. Following the sale, the director directly owned 76,163 shares of the company's stock, valued at $3,008,438.50. This represents a 0.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
EuroDry Stock Up 4.3%
EDRY stock opened at $43.29 on Thursday. EuroDry has a twelve month low of $10.51 and a twelve month high of $44.00. The company has a quick ratio of 1.23, a current ratio of 1.28 and a debt-to-equity ratio of 0.69. The stock's 50 day moving average is $26.27 and its 200-day moving average is $22.05. The firm has a market capitalization of $125.11 million, a PE ratio of 13.08 and a beta of 0.68.
EuroDry (NASDAQ:EDRY - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $2.44 EPS for the quarter, beating analysts' consensus estimates of $1.23 by $1.21. The business had revenue of $17.70 million during the quarter, compared to analyst estimates of $17.86 million. EuroDry had a return on equity of 8.77% and a net margin of 15.02%. Sell-side analysts expect that EuroDry will post 5.77 EPS for the current fiscal year.
Hedge Funds Weigh In On EuroDry
An institutional investor recently bought a new stake in EuroDry stock. BlackRock Inc. acquired a new position in shares of EuroDry (NASDAQ:EDRY - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,135 shares of the company's stock, valued at approximately $47,000. BlackRock Inc. owned approximately 0.07% of EuroDry as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 2.44% of the company's stock.
Wall Street Analysts Forecast Growth
EDRY has been the topic of several research analyst reports. Wall Street Zen raised EuroDry from a "buy" rating to a "strong-buy" rating in a research report on Sunday, May 3rd. Zacks Research upgraded EuroDry from a "hold" rating to a "strong-buy" rating in a research note on Friday, July 10th. Weiss Ratings lowered shares of EuroDry from a "sell (d+)" rating to a "sell (d-)" rating in a research report on Tuesday, May 26th. Finally, Alliance Global Partners reiterated a "buy" rating on shares of EuroDry in a research note on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $23.50.
Check Out Our Latest Analysis on EDRY
About EuroDry
(
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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