EuroDry Ltd. (NASDAQ:EDRY) Short Interest Up 928.6% in December

EuroDry Ltd. (NASDAQ:EDRY) was the target of a significant increase in short interest in the month of December. As of December 15th, there was short interest totalling 7,200 shares, an increase of 928.6% from the November 30th total of 700 shares. Approximately 0.6% of the company’s shares are short sold. Based on an average trading volume of 7,900 shares, the days-to-cover ratio is currently 0.9 days.

Hedge Funds Weigh In On EuroDry

A hedge fund recently raised its stake in EuroDry stock. Renaissance Technologies LLC increased its position in EuroDry Ltd. (NASDAQ:EDRY) by 1.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 55,100 shares of the company’s stock after purchasing an additional 900 shares during the quarter. Renaissance Technologies LLC owned approximately 1.94% of EuroDry worth $1,353,000 as of its most recent SEC filing. 2.44% of the stock is owned by institutional investors.

EuroDry Stock Performance

Shares of NASDAQ:EDRY opened at $11.74 on Friday. EuroDry has a 12 month low of $10.04 and a 12 month high of $24.84. The firm’s 50-day moving average is $14.65 and its 200 day moving average is $19.19. The company has a market capitalization of $33.29 million, a price-to-earnings ratio of -5.34 and a beta of 0.73. The company has a current ratio of 0.84, a quick ratio of 0.74 and a debt-to-equity ratio of 0.74.

EuroDry Company Profile

EuroDry Ltd., through its subsidiaries, provides ocean-going transportation services worldwide. It owns and operates a fleet of drybulk carriers that transport major bulks, such as iron ore, coal, and grains; and minor bulks, including bauxite, phosphate, and fertilizers. The company fleet consisted of 13 drybulk carriers comprising five Panamax drybulk carriers, two Kamsarmax, five Ultramax drybulk carriers, and one Supramax drybulk carrier with a total cargo carrying capacity of 918,502 dwt.