EuroDry Ltd. (NASDAQ:EDRY) Short Interest Up 163.6% in July

EuroDry Ltd. (NASDAQ:EDRY) was the recipient of a significant growth in short interest in July. As of July 31st, there was short interest totalling 2,900 shares, a growth of 163.6% from the July 15th total of 1,100 shares. Currently, 0.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 12,400 shares, the short-interest ratio is currently 0.2 days.

Hedge Funds Weigh In On EuroDry

An institutional investor recently raised its position in EuroDry stock. Linden Thomas Advisory Services LLC boosted its position in EuroDry Ltd. (NASDAQ:EDRY) by 26.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,917 shares of the company’s stock after buying an additional 3,362 shares during the period. Linden Thomas Advisory Services LLC owned approximately 0.56% of EuroDry worth $303,000 at the end of the most recent quarter. Institutional investors and hedge funds own 2.44% of the company’s stock.

EuroDry Trading Down 1.0 %

Shares of NASDAQ:EDRY traded down $0.21 during mid-day trading on Tuesday, reaching $20.59. 5,749 shares of the company’s stock were exchanged, compared to its average volume of 10,451. The firm has a market capitalization of $58.39 million, a price-to-earnings ratio of -18.06 and a beta of 0.79. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.76 and a current ratio of 0.89. EuroDry has a twelve month low of $13.86 and a twelve month high of $24.84. The business’s fifty day moving average price is $22.82 and its 200-day moving average price is $21.81.

EuroDry (NASDAQ:EDRY) last released its earnings results on Tuesday, May 21st. The company reported ($1.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.89). The firm had revenue of $14.43 million during the quarter, compared to analyst estimates of $15.14 million. EuroDry had a negative net margin of 6.22% and a negative return on equity of 2.88%. On average, research analysts predict that EuroDry will post 1.01 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Noble Financial upgraded shares of EuroDry to a “strong-buy” rating in a report on Monday, July 29th.

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.