EuroDry Ltd. (NASDAQ:EDRY) Sees Significant Growth in Short Interest

EuroDry Ltd. (NASDAQ:EDRY - Get Free Report) was the target of a large increase in short interest in October. As of October 15th, there was short interest totalling 2,200 shares, an increase of 120.0% from the September 30th total of 1,000 shares. Based on an average daily trading volume, of 5,200 shares, the short-interest ratio is currently 0.4 days. Approximately 0.2% of the company's stock are sold short.

EuroDry Stock Performance

NASDAQ:EDRY traded down $0.08 during midday trading on Friday, reaching $18.92. The stock had a trading volume of 2,383 shares, compared to its average volume of 8,780. The company has a quick ratio of 0.84, a current ratio of 0.98 and a debt-to-equity ratio of 0.72. The stock has a market cap of $53.67 million, a P/E ratio of -16.60 and a beta of 0.78. The firm has a fifty day simple moving average of $20.17 and a two-hundred day simple moving average of $21.32. EuroDry has a 12-month low of $14.46 and a 12-month high of $24.84.

EuroDry (NASDAQ:EDRY - Get Free Report) last issued its earnings results on Thursday, August 8th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.58 by ($0.75). EuroDry had a negative return on equity of 2.08% and a negative net margin of 4.11%. The business had revenue of $17.44 million for the quarter, compared to analysts' expectations of $17.89 million. On average, equities analysts expect that EuroDry will post -0.65 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Noble Financial upgraded shares of EuroDry to a "strong-buy" rating in a research note on Monday, July 29th.

Institutional Trading of EuroDry

A hedge fund recently raised its stake in EuroDry stock. Linden Thomas Advisory Services LLC lifted its stake in shares of EuroDry Ltd. (NASDAQ:EDRY - Free Report) by 9.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,570 shares of the company's stock after acquiring an additional 1,944 shares during the period. Linden Thomas Advisory Services LLC owned 0.76% of EuroDry worth $530,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 2.44% of the company's stock.

EuroDry Company Profile

EuroDry Ltd., through its subsidiaries, provides ocean-going transportation services worldwide. It owns and operates a fleet of drybulk carriers that transport major bulks, such as iron ore, coal, and grains; and minor bulks, including bauxite, phosphate, and fertilizers. The company fleet consisted of 13 drybulk carriers comprising five Panamax drybulk carriers, two Kamsarmax, five Ultramax drybulk carriers, and one Supramax drybulk carrier with a total cargo carrying capacity of 918,502 dwt.