EuroDry (NASDAQ:EDRY) Rating Increased to Strong-Buy at Noble Financial

EuroDry (NASDAQ:EDRY) was upgraded by equities researchers at Noble Financial to a “strong-buy” rating in a research note issued on Monday, Zacks.com reports.

EuroDry Stock Performance

EDRY opened at $22.00 on Monday. EuroDry has a 52-week low of $13.86 and a 52-week high of $24.84. The firm has a market capitalization of $62.48 million, a PE ratio of -19.30 and a beta of 0.79. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.76 and a current ratio of 0.89. The business’s 50-day simple moving average is $22.92 and its 200 day simple moving average is $21.78.

EuroDry (NASDAQ:EDRY) last released its earnings results on Tuesday, May 21st. The company reported ($1.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.89). The company had revenue of $14.43 million for the quarter, compared to the consensus estimate of $15.14 million. EuroDry had a negative return on equity of 2.88% and a negative net margin of 6.22%. As a group, sell-side analysts expect that EuroDry will post 1.52 earnings per share for the current fiscal year.

Institutional Trading of EuroDry

A hedge fund recently raised its stake in EuroDry stock. Linden Thomas Advisory Services LLC lifted its position in shares of EuroDry Ltd. (NASDAQ:EDRY) by 26.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,917 shares of the company’s stock after purchasing an additional 3,362 shares during the period. Linden Thomas Advisory Services LLC owned 0.56% of EuroDry worth $303,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 2.44% of the company’s stock.

About EuroDry

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.