EuroDry Ltd. (NASDAQ:EDRY) Short Interest Update

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

Hedge Funds Weigh In On EuroDry

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

EuroDry Trading Down 2.0 %

Shares of NASDAQ EDRY traded down $0.31 during trading on Wednesday, hitting $14.98. 4,718 shares of the company were exchanged, compared to its average volume of 8,699. The company has a fifty day moving average price of $19.15 and a 200-day moving average price of $20.98. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.84 and a current ratio of 0.98. The firm has a market capitalization of $42.56 million, a PE ratio of -17.42 and a beta of 0.80. EuroDry has a 12-month low of $14.62 and a 12-month high of $24.84.

Analyst Upgrades and Downgrades

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

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.