EuroDry Ltd. (NASDAQ:EDRY) Sees Large Decline in Short Interest

EuroDry Ltd. (NASDAQ:EDRY) was the recipient of a significant decline in short interest in the month of February. As of February 15th, there was short interest totalling 6,300 shares, a decline of 46.2% from the January 31st total of 11,700 shares. Approximately 0.5% of the company’s shares are short sold. Based on an average daily trading volume, of 9,800 shares, the days-to-cover ratio is presently 0.6 days.

EuroDry Price Performance

Shares of EDRY opened at $10.67 on Friday. EuroDry has a 52-week low of $10.04 and a 52-week high of $24.84. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.74 and a current ratio of 0.84. The business’s 50 day moving average price is $11.08 and its two-hundred day moving average price is $15.39. The firm has a market cap of $30.25 million, a PE ratio of -4.85 and a beta of 0.76.

Wall Street Analysts Forecast Growth

Separately, Noble Financial lowered EuroDry from an “outperform” rating to a “market perform” rating in a research note on Friday, February 7th.

Hedge Funds Weigh In On EuroDry

A hedge fund recently bought a new stake in EuroDry stock. B. Riley Wealth Advisors Inc. bought a new position in shares of EuroDry Ltd. (NASDAQ:EDRY) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 10,003 shares of the company’s stock, valued at approximately $112,000. B. Riley Wealth Advisors Inc. owned 0.35% of EuroDry as of its most recent SEC filing. 2.44% of the stock is currently owned by hedge funds and other institutional investors.

About EuroDry

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.