EuroDry (NASDAQ:EDRY) Insider Symeon Pariaros Sells 1,900 Shares

Key Points

• EuroDry insider Symeon Pariaros sold 1,900 shares at an average price of $39.98, generating $75,962. Following the sale, he retained 7,276 shares, a 20.71% reduction in his ownership.
• EuroDry shares opened at $38.16, near their 52-week high of $40.00, while the company reported quarterly EPS of $2.44—more than double analysts’ $1.23 estimate—on $17.70 million in revenue.
• Investor and analyst sentiment was mixed but generally positive: Renaissance Technologies increased its stake by 53.6%, while the stock held a “Moderate Buy” consensus rating and a $23.50 target price, well below its recent trading level.

EuroDry (NASDAQ:EDRY - Get Free Report) insider Symeon Pariaros sold 1,900 shares of the business's stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $39.98, for a total transaction of $75,962.00. Following the transaction, the insider owned 7,276 shares in the company, valued at approximately $290,894.48. This represents a 20.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

EuroDry Trading Down 0.6%

NASDAQ EDRY opened at $38.16 on Thursday. EuroDry has a 1-year low of $10.18 and a 1-year high of $40.00. 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 capitalization of $110.28 million, a PE ratio of 11.53 and a beta of 0.68. The firm's fifty day simple moving average is $24.48 and its 200-day simple moving average is $21.12.

EuroDry (NASDAQ:EDRY - Get Free Report) last posted its quarterly 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 company had revenue of $17.70 million during the quarter, compared to the consensus estimate of $17.86 million. EuroDry had a return on equity of 8.77% and a net margin of 15.02%. As a group, sell-side analysts anticipate that EuroDry will post 5.77 earnings per share for the current fiscal year.

Institutional Trading of 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 the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 60,347 shares of the company's stock after purchasing an additional 21,047 shares during the quarter. Renaissance Technologies LLC owned approximately 2.09% of EuroDry worth $1,189,000 as of its most recent SEC filing. 2.44% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

EuroDry Company Profile

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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