EuroDry (NASDAQ:EDRY) Short Interest Up 339.8% in March

Key Points

• Short interest surged +339.8% in March to 6,976 shares, equal to about 0.5% of the stock and a short-interest ratio of 0.2 days based on average daily volume.
• Shares trade around $18.70 with a market cap of $54.06M and a 12‑month range of $7.60–$23.98; the company has a negative P/E (-11.91) and reported an EPS beat ($0.87 vs. $0.78) while showing negative net margin and ROE.
• Analyst views are mixed but lean positive overall, with a MarketBeat average rating of "Moderate Buy" and an average price target of $23.50 amid recent upgrades and one sell rating.

EuroDry (NASDAQ:EDRY - Get Free Report) was the target of a large increase in short interest during the month of March. As of March 31st, there was short interest totaling 6,976 shares, an increase of 339.8% from the March 15th total of 1,586 shares. Currently, 0.5% of the company's stock are short sold. Based on an average trading volume of 45,181 shares, the short-interest ratio is currently 0.2 days.

EuroDry Price Performance

Shares of NASDAQ:EDRY opened at $18.70 on Friday. The business has a 50 day moving average price of $18.30 and a 200 day moving average price of $14.82. EuroDry has a twelve month low of $7.60 and a twelve month high of $23.98. The company has a market cap of $54.06 million, a price-to-earnings ratio of -11.91 and a beta of 0.89. The company has a quick ratio of 1.46, a current ratio of 1.53 and a debt-to-equity ratio of 0.89.

EuroDry (NASDAQ:EDRY - Get Free Report) last announced its earnings results on Thursday, February 19th. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.09. EuroDry had a negative return on equity of 6.83% and a negative net margin of 8.16%.The firm had revenue of $17.39 million during the quarter, compared to the consensus estimate of $17.77 million. Research analysts predict that EuroDry will post -2.84 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Weiss Ratings reissued a "sell (d-)" rating on shares of EuroDry in a report on Thursday, January 22nd. Wall Street Zen raised EuroDry to a "strong-buy" rating in a report on Saturday, April 4th. Zacks Research raised EuroDry from a "hold" rating to a "strong-buy" rating in a report on Friday, February 13th. Finally, Noble Financial raised EuroDry from a "market perform" rating to an "outperform" rating and set a $23.50 price objective on the stock in a report on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, EuroDry presently has an average rating of "Moderate Buy" and an average price target 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.