EuroDry (NASDAQ:EDRY) Trading Up 4.8% – What’s Next?

EuroDry (NASDAQ:EDRY)’s stock price traded up 4.8% during trading on Friday . The stock traded as high as $20.00 and last traded at $19.35. 25,589 shares changed hands during mid-day trading, a decline of 38% from the average session volume of 41,348 shares. The stock had previously closed at $18.47.

Analyst Ratings Changes

A number of research firms have recently commented on EDRY. Zacks Research upgraded shares of EuroDry from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 13th. Noble Financial upgraded EuroDry from a “market perform” rating to an “outperform” rating and set a $23.50 price objective on the stock in a research report on Thursday, February 12th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of EuroDry in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $23.50.

EuroDry Trading Up 4.8%

The stock’s 50 day simple moving average is $16.54 and its 200 day simple moving average is $14.05. The firm has a market cap of $55.92 million, a PE ratio of -12.32 and a beta of 0.87. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.46 and a current ratio of 1.53.

EuroDry (NASDAQ:EDRY) last posted its quarterly earnings data on Thursday, February 19th. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $17.39 million for the quarter, compared to analysts’ expectations of $17.77 million. On average, sell-side analysts forecast that EuroDry will post -2.84 earnings per share for the current fiscal year.

EuroDry Company Profile

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.