Key Points
- Director Aristeidis Pittas purchased 900 EuroDry shares at an average price of $51.33, investing $46,197 and increasing his ownership by 1.2% to 76,113 shares.
- EuroDry reported quarterly EPS of $2.44, beating analyst expectations of $1.23, while revenue of $17.70 million was slightly below the $17.86 million consensus estimate.
- Analyst sentiment is mixed but leans positive, with a consensus “Moderate Buy” rating; shares opened at $48.16 after falling 5.4%, compared with an average analyst price target of $23.50.
EuroDry (NASDAQ:EDRY - Get Free Report) Director Aristeidis Pittas purchased 900 shares of the company's stock in a transaction dated Thursday, September 24th. The stock was purchased at an average cost of $51.33 per share, with a total value of $46,197.00. Following the purchase, the director owned 76,113 shares in the company, valued at approximately $3,906,880.29. This trade represents a 1.20% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
EuroDry Stock Down 5.4%
EDRY stock opened at $48.16 on Friday. The firm has a market cap of $138.22 million, a PE ratio of 14.55 and a beta of 0.74. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.23 and a current ratio of 1.28. The firm's 50 day moving average price is $44.65 and its 200-day moving average price is $29.50. EuroDry has a one year low of $11.94 and a one year high of $73.07.
EuroDry (NASDAQ:EDRY - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $2.44 EPS for the quarter, beating analysts' consensus estimates of $1.23 by $1.21. The firm had revenue of $17.70 million for the quarter, compared to analysts' expectations of $17.86 million. EuroDry had a return on equity of 8.77% and a net margin of 15.02%. On average, equities research analysts anticipate that EuroDry will post 5.77 EPS for the current year.
Analysts Set New Price Targets
Several equities analysts have recently commented on EDRY shares. Alliance Global Partners reaffirmed a "buy" rating on shares of EuroDry in a research note on Friday, August 7th. Weiss Ratings reissued a "sell (d-)" rating on shares of EuroDry in a research report on Friday, August 21st. Finally, Zacks Research upgraded shares of EuroDry from a "hold" rating to a "strong-buy" rating in a report on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat, EuroDry has a consensus rating of "Moderate Buy" and an average price target of $23.50.
Check Out Our Latest Stock Analysis on EDRY
Institutional Trading of EuroDry
A hedge fund recently bought a new position in EuroDry stock. BlackRock Inc. bought a new stake in EuroDry (NASDAQ:EDRY - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 2,135 shares of the company's stock, valued at approximately $47,000. BlackRock Inc. owned about 0.07% of EuroDry as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 2.44% of the company's stock.
About EuroDry
(
Get Free Report)
EuroDry Ltd. (NASDAQ: EDRY) is an international dry bulk shipping company that owns and operates ocean-going vessels. The company provides seaborne transportation for a broad range of bulk commodities, including grain, iron ore, coal, steel products, fertilizers and forest products.
EuroDry's vessels serve commercial customers and trading routes in global markets, transporting dry bulk cargoes between major ports and commodity-producing and consuming regions. Its fleet has included vessels in the Panamax, Kamsarmax, Ultramax and Handy-size segments, allowing the company to serve a variety of cargo volumes and trade routes.
EuroDry was established in 1997 and is incorporated in the Republic of the Marshall Islands.
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