Key Points
- EuroDry director Aristeidis Pittas bought 600 shares at $48.17 each, investing $28,902 and increasing his direct ownership to 77,088 shares.
- EDRY shares fell $1.74 to $45.70 in Friday trading. The stock has traded between $11.94 and $73.07 over the past year and has a market capitalization of approximately $131 million.
- EuroDry’s latest quarterly results exceeded earnings expectations, reporting $2.44 in EPS versus a $1.23 consensus estimate. However, analyst sentiment is mixed, with a consensus rating of “Hold” and a $23.50 target price.
EuroDry (NASDAQ:EDRY - Get Free Report) Director Aristeidis Pittas purchased 600 shares of EuroDry stock in a transaction dated Thursday, October 15th. The stock was acquired at an average cost of $48.17 per share, with a total value of $28,902.00. Following the completion of the acquisition, the director directly owned 77,088 shares in the company, valued at approximately $3,713,328.96. This trade represents a 0.78% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
EuroDry Price Performance
Shares of NASDAQ:EDRY traded down $1.74 during trading on Friday, hitting $45.70. 91,614 shares of the stock were exchanged, compared to its average volume of 166,301. 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 company has a market cap of $131.16 million, a PE ratio of 13.81 and a beta of 0.77. EuroDry has a 12-month low of $11.94 and a 12-month high of $73.07. The company has a fifty day moving average price of $52.99 and a two-hundred day moving average price of $33.09.
EuroDry (NASDAQ:EDRY - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $2.44 earnings per share for the quarter, topping analysts' consensus estimates of $1.23 by $1.21. The business had revenue of $17.70 million during the quarter, compared to analysts' expectations of $17.86 million. EuroDry had a net margin of 15.02% and a return on equity of 8.77%. On average, analysts forecast that EuroDry will post 5.77 EPS for the current year.
Analyst Ratings Changes
EDRY has been the subject of a number of recent analyst reports. Alliance Global Partners restated a "buy" rating on shares of EuroDry in a report on Friday, August 7th. Zacks Research downgraded shares of EuroDry from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, October 6th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of EuroDry in a research note on Friday, August 21st. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, EuroDry has a consensus rating of "Hold" and a consensus target price of $23.50.
View Our Latest Analysis on EDRY
Institutional Trading of EuroDry
Hedge funds have recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB purchased a new stake in shares of EuroDry during the third quarter worth about $32,000. BlackRock Inc. acquired a new stake in shares of EuroDry during the 2nd quarter valued at approximately $47,000. Finally, Renaissance Technologies LLC raised its holdings in shares of EuroDry by 53.6% during the first quarter. Renaissance Technologies LLC now owns 60,347 shares of the company's stock worth $1,189,000 after purchasing an additional 21,047 shares during the period. Hedge funds and other institutional investors own 2.44% of the company's stock.
About EuroDry
(
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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