EuroDry (NASDAQ:EDRY) Upgraded to Buy by ValuEngine

EuroDry (NASDAQ:EDRY) was upgraded by equities research analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday, ValuEngine reports.

Several other research firms also recently weighed in on EDRY. Noble Financial reiterated a “buy” rating and set a $13.50 target price on shares of EuroDry in a research report on Thursday, November 21st. Zacks Investment Research lowered EuroDry from a “buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Finally, Maxim Group restated a “buy” rating and issued a $9.00 price target on shares of EuroDry in a report on Tuesday, November 19th.

Shares of EDRY opened at $7.95 on Tuesday. EuroDry has a fifty-two week low of $6.51 and a fifty-two week high of $10.90. The company has a market capitalization of $18.47 million, a PE ratio of 33.13 and a beta of -0.90. The stock has a fifty day moving average of $8.07 and a two-hundred day moving average of $7.76. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.74 and a current ratio of 0.78.

EuroDry (NASDAQ:EDRY) last posted its quarterly earnings data on Thursday, November 14th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.46) by $0.11. The business had revenue of $7.66 million for the quarter. EuroDry had a negative return on equity of 1.16% and a negative net margin of 3.90%. As a group, equities research analysts forecast that EuroDry will post -1.29 earnings per share for the current fiscal year.

About EuroDry

EuroDry Ltd., through its subsidiaries, provides ocean-going transportation services worldwide. The company owns and operates drybulk carriers that transport major bulks, such as iron ore, coal, and grains; and minor bulks comprising bauxite, phosphate, and fertilizers. As of November 15, 2018, it operated a fleet of six vessels, including one Ultramax, two Kamsarmax, and three Panamax drybulk carriers with a cargo capacity of 453,086 deadweight tons.

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