EuroDry (NASDAQ:EDRY) Insider Sells $15,400.00 in Stock

Key Points

• EuroDry insider Stefania Karmiri sold 400 shares at an average price of $38.50, receiving $15,400 and reducing her holdings by 32% to 850 shares.
• EuroDry reported quarterly EPS of $2.44, beating analyst expectations of $1.23, while revenue of $17.70 million was slightly below estimates.
• The stock traded near its 12-month high at $39.10, while analysts maintained an overall “Moderate Buy” rating with an average price target of $23.50; Renaissance Technologies also increased its stake by 53.6%.

EuroDry (NASDAQ:EDRY - Get Free Report) insider Stefania Karmiri sold 400 shares of EuroDry stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $38.50, for a total value of $15,400.00. Following the completion of the sale, the insider directly owned 850 shares of the company's stock, valued at approximately $32,725. This trade represents a 32.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

EuroDry Stock Performance

NASDAQ EDRY traded up $0.70 during trading on Wednesday, hitting $39.10. 78,078 shares of the company's stock traded hands, compared to its average volume of 39,888. The stock has a market capitalization of $113.04 million, a price-to-earnings ratio of 11.81 and a beta of 0.68. EuroDry has a 12-month low of $10.18 and a 12-month high of $40.00. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.23 and a current ratio of 1.28. The business has a 50 day moving average of $24.17 and a 200-day moving average of $20.95.

EuroDry (NASDAQ:EDRY - Get Free Report) last issued its earnings results 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 firm had revenue of $17.70 million during the quarter, compared to analyst estimates of $17.86 million. EuroDry had a net margin of 15.02% and a return on equity of 8.77%. As a group, equities research analysts anticipate that EuroDry will post 5.77 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently weighed in on EDRY. Zacks Research upgraded shares of EuroDry from a "hold" rating to a "strong-buy" rating in a research note on Friday, July 10th. Wall Street Zen upgraded EuroDry from a "buy" rating to a "strong-buy" rating in a research report on Sunday, May 3rd. Weiss Ratings lowered EuroDry from a "sell (d+)" rating to a "sell (d-)" rating in a report on Tuesday, May 26th. Finally, Alliance Global Partners reiterated a "buy" rating on shares of EuroDry in a research report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $23.50.

Hedge Funds Weigh In On EuroDry

An institutional investor recently raised its stake in EuroDry stock. Renaissance Technologies LLC increased its position in EuroDry (NASDAQ:EDRY - Free Report) by 53.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 60,347 shares of the company's stock after acquiring an additional 21,047 shares during the quarter. Renaissance Technologies LLC owned about 2.09% of EuroDry worth $1,189,000 at the end of the most recent quarter. 2.44% of the stock is currently owned by hedge funds and other institutional investors.

About EuroDry

EuroDry Limited is a Marshall Islands–incorporated shipping company, formed in 2005 and headquartered in Piraeus, Greece. The company is publicly traded on the NASDAQ under the symbol EDRY. Since its inception, EuroDry has focused exclusively on the marine transportation of drybulk commodities and has grown its fleet through a combination of newbuilding contracts and second-hand acquisitions.

As of mid-2024, EuroDry's operating fleet comprises Capesize, Panamax and Supramax drybulk carriers, collectively providing over one million deadweight tons (dwt) of capacity.

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