EuroDry (NASDAQ:EDRY) Rating Increased to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of EuroDry (NASDAQ:EDRY) from a buy rating to a strong-buy rating in a research report sent to investors on Sunday morning.

A number of other equities analysts have also weighed in on the stock. Noble Financial upgraded shares of EuroDry from a “market perform” rating to an “outperform” rating and set a $23.50 price target on the stock in a research report on Thursday, February 12th. Weiss Ratings restated a “sell (d-)” rating on shares of EuroDry in a research report on Tuesday, April 21st. Finally, Zacks Research lowered shares of EuroDry from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 24th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $23.50.

EuroDry Price Performance

Shares of NASDAQ EDRY opened at $20.27 on Friday. The company’s 50-day simple moving average is $20.07 and its 200-day simple moving average is $15.65. EuroDry has a 52-week low of $7.60 and a 52-week high of $23.98. The firm has a market cap of $58.58 million, a price-to-earnings ratio of -12.91 and a beta of 0.65. The company has a quick ratio of 1.46, a current ratio of 1.53 and a debt-to-equity ratio of 0.89.

EuroDry (NASDAQ:EDRY) last posted its quarterly earnings results 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. The firm had revenue of $17.39 million for the quarter, compared to analyst estimates of $17.77 million. EuroDry had a negative net margin of 8.16% and a negative return on equity of 6.83%. Equities analysts predict that EuroDry will post 2.98 EPS for the current fiscal 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.