Short Interest in EuroDry Ltd. (NASDAQ:EDRY) Decreases By 63.6%

EuroDry Ltd. (NASDAQ:EDRY) was the target of a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 800 shares, a decrease of 63.6% from the October 15th total of 2,200 shares. Based on an average daily volume of 4,600 shares, the short-interest ratio is currently 0.2 days. Currently, 0.1% of the company’s shares are short sold.

Analysts Set New Price Targets

Separately, Noble Financial raised EuroDry to a “strong-buy” rating in a research report on Monday, July 29th.

EuroDry Trading Down 2.0 %

Shares of EDRY traded down $0.31 during trading on Wednesday, reaching $14.98. 4,718 shares of the company traded hands, compared to its average volume of 8,699. The stock has a 50-day simple moving average of $19.15 and a 200-day simple moving average of $20.98. The company has a quick ratio of 0.84, a current ratio of 0.98 and a debt-to-equity ratio of 0.72. EuroDry has a twelve month low of $14.62 and a twelve month high of $24.84. The stock has a market cap of $42.56 million, a PE ratio of -17.42 and a beta of 0.80.

Institutional Trading of EuroDry

An institutional investor recently raised its position in EuroDry stock. Linden Thomas Advisory Services LLC raised its position in shares of EuroDry Ltd. (NASDAQ:EDRY) by 9.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,570 shares of the company’s stock after buying an additional 1,944 shares during the period. Linden Thomas Advisory Services LLC owned about 0.76% of EuroDry worth $530,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 2.44% of the company’s stock.

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.