EuroDry (NASDAQ:EDRY) Stock Price Up 0.5% – Time to Buy?

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

EuroDry Stock Performance

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

Hedge Funds Weigh In On EuroDry

A hedge fund recently raised its stake in EuroDry stock. Renaissance Technologies LLC raised its stake in EuroDry Ltd. (NASDAQ:EDRY) by 1.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 55,100 shares of the company’s stock after acquiring an additional 900 shares during the period. 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.