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

EuroDry Ltd. (NASDAQ:EDRY) was the target of a significant decline in short interest during the month of December. As of December 31st, there was short interest totalling 500 shares, a decline of 93.1% from the December 15th total of 7,200 shares. Approximately 0.0% of the company’s shares are short sold. Based on an average daily trading volume, of 8,600 shares, the short-interest ratio is currently 0.1 days.

EuroDry Trading Up 2.4 %

Shares of EDRY traded up $0.28 on Wednesday, hitting $11.75. 5,934 shares of the stock traded hands, compared to its average volume of 7,182. EuroDry has a 1 year low of $10.04 and a 1 year high of $24.84. The stock’s 50 day moving average is $12.82 and its two-hundred day moving average is $18.04. The firm has a market capitalization of $33.32 million, a P/E ratio of -5.34 and a beta of 0.78. The company has a quick ratio of 0.74, a current ratio of 0.84 and a debt-to-equity ratio of 0.74.

Institutional Investors Weigh In On EuroDry

A hedge fund recently raised its stake in EuroDry stock. Renaissance Technologies LLC increased its holdings in shares of EuroDry Ltd. (NASDAQ:EDRY) by 1.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 55,100 shares of the company’s stock after buying an additional 900 shares during the quarter. Renaissance Technologies LLC owned about 1.94% of EuroDry worth $1,353,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 2.44% of the company’s stock.

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.