Key Points
- Director sale: Panagiotis Kyriakopoulos sold 2,067 EuroDry shares for $90,534.60, reducing his direct holdings by 19.75% to 8,400 shares.
- Financial performance: EuroDry reported quarterly EPS of $2.44, beating the $1.23 analyst consensus, while revenue of $17.70 million came in slightly below expectations.
- Mixed outlook: Analysts’ ratings range from Buy to Sell, resulting in a consensus Hold rating and an average price target of $23.50, well below the reported $45.53 opening price.
EuroDry (NASDAQ:EDRY - Get Free Report) Director Panagiotis Kyriakopoulos sold 2,067 shares of EuroDry stock in a transaction that occurred on Monday, October 26th. The stock was sold at an average price of $43.80, for a total value of $90,534.60. Following the transaction, the director directly owned 8,400 shares in the company, valued at approximately $367,920. This trade represents a 19.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
EuroDry Trading Up 1.2%
Shares of NASDAQ EDRY opened at $45.53 on Wednesday. EuroDry has a twelve month low of $12.09 and a twelve month high of $73.07. The stock has a 50 day moving average of $53.68 and a two-hundred day moving average of $29.14.
EuroDry (NASDAQ:EDRY - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported $2.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.23 by $1.21. The business had revenue of $17.70 million for the quarter, compared to analysts' expectations of $17.86 million. On average, equities research analysts forecast that EuroDry will post 5.77 earnings per share for the current fiscal year.
Hedge Funds Weigh In On EuroDry
Several institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC raised its stake in EuroDry by 53.6% during the 1st quarter. Renaissance Technologies LLC now owns 60,347 shares of the company's stock valued at $1,189,000 after acquiring an additional 21,047 shares during the last quarter. Sowell Financial Services LLC purchased a new stake in shares of EuroDry during the third quarter worth approximately $592,000. BlackRock Inc. purchased a new stake in shares of EuroDry during the second quarter worth approximately $47,000. Finally, MassMutual Private Wealth & Trust FSB acquired a new stake in shares of EuroDry during the third quarter worth $32,000. Institutional investors and hedge funds own 2.44% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on EDRY shares. Zacks Research cut shares of EuroDry from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, October 6th. Alliance Global Partners reissued a "buy" rating on shares of EuroDry in a research report on Friday, August 7th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of EuroDry in a research note on Friday, August 21st. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $23.50.
Check Out Our Latest Stock Report on EuroDry
EuroDry Company Profile
(
Get Free Report)
EuroDry Ltd. (NASDAQ: EDRY) is a dry bulk shipping company that owns and operates vessels used to transport a range of essential commodities. Its cargoes may include iron ore, grain, coal, steel products, forest products and other dry bulk materials.
The company's fleet has primarily consisted of smaller dry bulk vessels, including Handy-size and Supramax-class ships. These vessels serve international trade routes and are employed through time charters, voyage charters and other commercial arrangements, depending on market conditions and customer requirements.
EuroDry was established in 1997 and is managed from offices in Athens, Greece.
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