Key Points
- EuroDry Director Aristeidis Pittas bought 700 shares at an average price of $51.18, investing $35,826 and increasing his holdings by 0.92% to 76,788 shares.
- EuroDry recently reported quarterly EPS of $2.44, beating the $1.23 consensus estimate, while revenue of $17.70 million came slightly below expectations.
- Analyst sentiment is mixed, with an overall “Hold” rating and a $23.50 consensus price target; the stock opened at $50.82 and was reported down 4.5%.
EuroDry (NASDAQ:EDRY - Get Free Report) Director Aristeidis Pittas acquired 700 shares of EuroDry stock in a transaction on Tuesday, October 13th. The shares were bought at an average cost of $51.18 per share, with a total value of $35,826.00. Following the completion of the purchase, the director owned 76,788 shares in the company, valued at $3,930,009.84. The trade was a 0.92% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link.
EuroDry Stock Down 4.5%
EuroDry stock opened at $50.82 on Thursday. EuroDry has a twelve month low of $11.94 and a twelve month high of $73.07. The stock has a 50 day moving average of $52.41 and a two-hundred day moving average of $32.81. The company has a current ratio of 1.28, a quick ratio of 1.23 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $145.70 million, a price-to-earnings ratio of 15.35 and a beta of 0.77.
EuroDry (NASDAQ:EDRY - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported $2.44 earnings per share for the quarter, beating the consensus estimate of $1.23 by $1.21. The company had revenue of $17.70 million for the quarter, compared to the consensus estimate of $17.86 million. EuroDry had a return on equity of 8.77% and a net margin of 15.02%. As a group, research analysts expect that EuroDry will post 5.77 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Several equities research analysts recently weighed in on EDRY shares. Alliance Global Partners reaffirmed a "buy" rating on shares of EuroDry in a report on Friday, August 7th. Zacks Research cut shares of EuroDry from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, October 6th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of EuroDry in a research note on Friday, August 21st. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $23.50.
Read Our Latest Analysis on EuroDry
Institutional Trading of EuroDry
Several large investors have recently bought and sold shares of EDRY. MassMutual Private Wealth & Trust FSB purchased a new position in shares of EuroDry in the third quarter valued at $32,000. BlackRock Inc. acquired a new position in shares of EuroDry during the 2nd quarter worth $47,000. Finally, Renaissance Technologies LLC raised its stake in shares of EuroDry by 53.6% during the 1st quarter. Renaissance Technologies LLC now owns 60,347 shares of the company's stock worth $1,189,000 after buying an additional 21,047 shares during the last quarter. Institutional investors and hedge funds own 2.44% of the company's stock.
EuroDry Company Profile
(
Get Free Report)
EuroDry Ltd. is a dry bulk shipping company that owns and operates vessels used to transport major and minor bulk commodities worldwide. Its fleet serves international trade routes and carries cargoes such as iron ore, grains, coal, steel products, and other dry bulk materials.
The company operates vessels in several dry bulk segments, including Handysize, Supramax, Ultramax, and Panamax ships. EuroDry manages the commercial and technical operations of its vessels through a combination of voyage charters, time charters, and other employment arrangements, depending on market conditions and customer requirements.
EuroDry was established in 1997 and is headquartered in Maroussi, Greece.
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