EuroDry (NASDAQ:EDRY) Insider Symeon Pariaros Sells 2,700 Shares

Key Points

• EuroDry insider Symeon Pariaros sold 2,700 shares at an average price of $42.00, generating $113,400 and reducing his ownership by 37.11% to 4,576 shares. He also sold 1,900 shares the prior week.
• EuroDry reported quarterly EPS of $2.44, exceeding the $1.23 consensus estimate, while revenue of $17.70 million fell slightly short of expectations. The stock opened at $41.49 and has risen sharply from its 12-month low of $10.31.
• Analyst sentiment is mixed but leans positive, with a consensus rating of “Moderate Buy”; Renaissance Technologies also increased its stake by 53.6% during the first quarter.

EuroDry (NASDAQ:EDRY - Get Free Report) insider Symeon Pariaros sold 2,700 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $42.00, for a total value of $113,400.00. Following the completion of the transaction, the insider owned 4,576 shares in the company, valued at approximately $192,192. This represents a 37.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Symeon Pariaros also recently made the following trade(s):

• On Wednesday, August 12th, Symeon Pariaros sold 1,900 shares of EuroDry stock. The shares were sold at an average price of $39.98, for a total transaction of $75,962.00.

EuroDry Stock Up 3.9%

EDRY stock opened at $41.49 on Wednesday. The firm has a market capitalization of $119.91 million, a PE ratio of 12.53 and a beta of 0.68. The company has a quick ratio of 1.23, a current ratio of 1.28 and a debt-to-equity ratio of 0.69. EuroDry has a twelve month low of $10.31 and a twelve month high of $43.30. The stock's 50 day moving average is $25.84 and its 200-day moving average is $21.85.

EuroDry (NASDAQ:EDRY - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $2.44 earnings per share for the quarter, topping the consensus estimate of $1.23 by $1.21. EuroDry had a net margin of 15.02% and a return on equity of 8.77%. The business had revenue of $17.70 million for the quarter, compared to analysts' expectations of $17.86 million. Sell-side analysts expect that EuroDry will post 5.77 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On EuroDry

A hedge fund recently raised its stake in EuroDry stock. Renaissance Technologies LLC lifted its position in shares of EuroDry (NASDAQ:EDRY - Free Report) by 53.6% in the 1st quarter, according to its most recent 13F filing with the SEC. 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 approximately 2.09% of EuroDry worth $1,189,000 at the end of the most recent quarter. Institutional investors and hedge funds own 2.44% of the company's stock.

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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