EuroDry (NASDAQ:EDRY) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of EuroDry (NASDAQ:EDRY) to a strong-buy rating in a report released on Saturday.

Other analysts have also recently issued reports about the stock. Zacks Research upgraded shares of EuroDry from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of EuroDry in a research note on Thursday, January 22nd. Finally, Noble Financial upgraded shares of EuroDry from a “market perform” rating to an “outperform” rating and set a $23.50 target price for the company in a research note on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $23.50.

EuroDry Price Performance

Shares of EuroDry stock opened at $19.58 on Friday. The firm has a fifty day simple moving average of $17.86 and a 200-day simple moving average of $14.66. The company has a current ratio of 1.53, a quick ratio of 1.46 and a debt-to-equity ratio of 0.89. EuroDry has a 1-year low of $7.60 and a 1-year high of $23.98. The stock has a market capitalization of $56.59 million, a price-to-earnings ratio of -12.47 and a beta of 0.89.

EuroDry (NASDAQ:EDRY) last issued its quarterly earnings data on Thursday, February 19th. The company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.09. EuroDry had a negative net margin of 8.16% and a negative return on equity of 6.83%. The business had revenue of $17.39 million during the quarter, compared to analysts’ expectations of $17.77 million. On average, sell-side analysts expect that EuroDry will post -2.84 earnings per share for the current year.

About EuroDry

EuroDry Limited is a Marshall Islands–incorporated shipping company, formed in 2005 and headquartered in Piraeus, Greece. The company is publicly traded on the NASDAQ under the symbol EDRY. Since its inception, EuroDry has focused exclusively on the marine transportation of drybulk commodities and has grown its fleet through a combination of newbuilding contracts and second-hand acquisitions.

As of mid-2024, EuroDry’s operating fleet comprises Capesize, Panamax and Supramax drybulk carriers, collectively providing over one million deadweight tons (dwt) of capacity.