Short Interest in EuroDry Ltd. (NASDAQ:EDRY) Declines By 12.5%

EuroDry Ltd. (NASDAQ:EDRY) saw a large drop in short interest during the month of November. As of November 15th, there was short interest totalling 700 shares, a drop of 12.5% from the October 31st total of 800 shares. Approximately 0.1% of the shares of the stock are sold short. Based on an average daily volume of 5,400 shares, the short-interest ratio is presently 0.1 days.

EuroDry Price Performance

Shares of EuroDry stock traded up $0.15 during trading on Friday, reaching $13.80. 3,102 shares of the company’s stock were exchanged, compared to its average volume of 8,155. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.84 and a quick ratio of 0.74. EuroDry has a 1-year low of $11.09 and a 1-year high of $24.84. The firm’s 50-day moving average price is $17.74 and its 200 day moving average price is $20.44.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in EuroDry stock. Renaissance Technologies LLC grew its stake in shares of EuroDry Ltd. (NASDAQ:EDRY) by 1.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 55,100 shares of the company’s stock after acquiring 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 SEC filing. 2.44% of the stock is currently owned by institutional investors and hedge funds.

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.