EuroDry (NASDAQ:EDRY) Trading 0.5% Higher – Still a Buy?

EuroDry Ltd. (NASDAQ:EDRY)’s stock price was up 0.5% during mid-day trading on Monday . The stock traded as high as $10.83 and last traded at $10.71. Approximately 48,974 shares traded hands during trading, an increase of 447% from the average daily volume of 8,950 shares. The stock had previously closed at $10.66.

EuroDry Price Performance

The company has a quick ratio of 0.74, a current ratio of 0.84 and a debt-to-equity ratio of 0.74. The stock’s 50-day moving average price is $14.97 and its 200 day moving average price is $19.29. The firm has a market cap of $32.98 million, a price-to-earnings ratio of -5.29 and a beta of 0.73.

Institutional Trading of EuroDry

An institutional investor recently raised its position in EuroDry stock. Renaissance Technologies LLC increased its position in EuroDry Ltd. (NASDAQ:EDRY) by 1.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 55,100 shares of the company’s stock after purchasing an additional 900 shares during the quarter. Renaissance Technologies LLC owned approximately 1.94% of EuroDry worth $1,353,000 at the end of the most recent quarter. 2.44% of the stock is currently owned by hedge funds and other institutional investors.

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.