Zacks Research downgraded shares of EuroDry (NASDAQ:EDRY – Free Report) from a strong-buy rating to a hold rating in a report issued on Tuesday,Zacks reports.
Several other equities research analysts also recently issued reports on EDRY. Weiss Ratings reiterated a “sell (d-)” rating on shares of EuroDry in a research note on Friday, August 21st. Alliance Global Partners restated a “buy” rating on shares of EuroDry in a report on Friday, August 7th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $23.50.
Check Out Our Latest Research Report on EuroDry
EuroDry Stock Performance
EuroDry (NASDAQ:EDRY – Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported $2.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $1.21. EuroDry had a return on equity of 8.77% and a net margin of 15.02%.The business had revenue of $17.70 million during the quarter, compared to analysts’ expectations of $17.86 million. Equities analysts predict that EuroDry will post 5.77 EPS for the current year.
Insider Activity at EuroDry
In other news, Director Aristeidis P. Pittas bought 900 shares of EuroDry stock in a transaction dated Thursday, September 24th. The shares were acquired at an average cost of $51.33 per share, with a total value of $46,197.00. Following the completion of the transaction, the director owned 76,113 shares in the company, valued at approximately $3,906,880.29. This trade represents a 1.20% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Symeon Pariaros sold 2,676 shares of the company’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $45.80, for a total transaction of $122,560.80. Following the completion of the transaction, the insider owned 1,900 shares of the company’s stock, valued at $87,020. This trade represents a 58.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 12,726 shares of company stock valued at $568,005 in the last ninety days. 51.40% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On EuroDry
A number of large investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC grew its stake in shares of EuroDry by 53.6% during the first quarter. Renaissance Technologies LLC now owns 60,347 shares of the company’s stock valued at $1,189,000 after acquiring an additional 21,047 shares in the last quarter. BlackRock Inc. purchased a new stake in shares of EuroDry during the second quarter worth about $47,000. Finally, MassMutual Private Wealth & Trust FSB acquired a new position in shares of EuroDry in the third quarter worth about $32,000. 2.44% of the stock is owned by institutional investors and hedge funds.
About EuroDry
EuroDry Ltd. is a dry bulk shipping company that owns and operates vessels used to transport major and minor bulk commodities worldwide. Its fleet serves international trade routes and carries cargoes such as iron ore, grains, coal, steel products, and other dry bulk materials.
The company operates vessels in several dry bulk segments, including Handysize, Supramax, Ultramax, and Panamax ships. EuroDry manages the commercial and technical operations of its vessels through a combination of voyage charters, time charters, and other employment arrangements, depending on market conditions and customer requirements.
EuroDry was established in 1997 and is headquartered in Maroussi, Greece.
Featured Articles
- Five stocks we like better than EuroDry
- Skydance Just Became a Media Giant—With an $80 Billion Debt Load
- Could Velo3D Be the Next Defense Buyout Target?
- Penguin Solutions Is Soaring as AI Memory Demand Explodes
- Alphabet’s Chart Is Coiling—and the Fundamentals May Be Ready to Back It Up
Receive News & Ratings for EuroDry Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EuroDry and related companies with MarketBeat.com's FREE daily email newsletter.
