EuroDry Ltd. (NASDAQ:EDRY) Short Interest Down 88.5% in March

EuroDry Ltd. (NASDAQ:EDRY) saw a significant decline in short interest in March. As of March 31st, there was short interest totalling 300 shares, a decline of 88.5% from the March 15th total of 2,600 shares. Based on an average daily volume of 7,200 shares, the short-interest ratio is presently 0.0 days. Currently, 0.0% of the company’s stock are short sold.

Institutional Inflows and Outflows

An institutional investor recently raised its position in EuroDry stock. Linden Thomas Advisory Services LLC increased its stake in shares of EuroDry Ltd. (NASDAQ:EDRY) by 16.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,693 shares of the company’s stock after buying an additional 4,289 shares during the quarter. Linden Thomas Advisory Services LLC owned 1.05% of EuroDry worth $333,000 at the end of the most recent quarter. 2.44% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

EuroDry Price Performance

NASDAQ:EDRY traded up $0.13 on Wednesday, hitting $8.72. The company had a trading volume of 2,973 shares, compared to its average volume of 8,397. The firm has a 50 day moving average of $10.42 and a two-hundred day moving average of $13.01. The stock has a market capitalization of $24.73 million, a price-to-earnings ratio of -3.96 and a beta of 0.72. EuroDry has a 52 week low of $8.00 and a 52 week high of $24.84. The company has a current ratio of 0.84, a quick ratio of 0.74 and a debt-to-equity ratio of 0.74.

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.