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

EuroDry Ltd. (NASDAQ:EDRY) saw a significant decline in short interest during 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. Currently, 0.5% of the company’s shares are sold short. Based on an average daily volume of 9,800 shares, the short-interest ratio is presently 0.6 days.

EuroDry Price Performance

EuroDry stock opened at $10.67 on Friday. The stock’s 50 day moving average is $11.08 and its 200 day moving average is $15.39. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.84 and a quick ratio of 0.74. The firm has a market cap of $30.25 million, a P/E ratio of -4.85 and a beta of 0.76. EuroDry has a one year low of $10.04 and a one year high of $24.84.

Hedge Funds Weigh In On EuroDry

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

Analyst Ratings Changes

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

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.