Symeon Pariaros Sells 2,676 Shares of EuroDry (NASDAQ:EDRY) Stock

Key Points

• Insider selling: Symeon Pariaros sold 2,676 EuroDry shares for $122,560.80, reducing his direct holdings by 58.48% to 1,900 shares. He also sold 4,600 shares in two earlier August transactions.
• Strong stock and earnings performance: EDRY shares recently traded at $51.35, near their 52-week high of $52.22. The company reported quarterly EPS of $2.44, well above the $1.23 consensus estimate, while revenue came in at $17.70 million.
• Mixed but generally positive outlook: Analyst coverage produces a “Moderate Buy” consensus, with a $23.50 price target, despite ratings ranging from Sell to Strong Buy. BlackRock also initiated a small position, purchasing 2,135 shares during the second quarter.

EuroDry (NASDAQ:EDRY - Get Free Report) insider Symeon Pariaros sold 2,676 shares of EuroDry stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $45.80, for a total value of $122,560.80. Following the completion of the transaction, the insider directly owned 1,900 shares in the company, valued at $87,020. This represents a 58.48% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Tuesday, August 18th, Symeon Pariaros sold 2,700 shares of EuroDry stock. The stock was sold at an average price of $42.00, for a total value of $113,400.00.
• On Wednesday, August 12th, Symeon Pariaros sold 1,900 shares of EuroDry stock. The stock was sold at an average price of $39.98, for a total value of $75,962.00.

EuroDry Stock Performance

Shares of EDRY stock traded up $4.50 during trading hours on Monday, reaching $51.35. 221,284 shares of the company's stock were exchanged, compared to its average volume of 44,660. EuroDry has a fifty-two week low of $10.51 and a fifty-two week high of $52.22. The company has a quick ratio of 1.23, a current ratio of 1.28 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $148.45 million, a P/E ratio of 15.55 and a beta of 0.68. The business has a fifty day moving average price of $27.18 and a 200-day moving average price of $22.48.

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

Analyst Ratings Changes

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

Institutional Trading of EuroDry

An institutional investor recently bought a new stake in EuroDry stock. BlackRock Inc. bought a new stake in EuroDry (NASDAQ:EDRY - Free Report) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 2,135 shares of the company's stock, valued at approximately $47,000. BlackRock Inc. owned 0.07% of EuroDry at the end of the most recent reporting period. 2.44% of the stock is owned by hedge funds and other institutional investors.

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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