EuroDry (NASDAQ:EDRY) Raised to “Strong-Buy” at Noble Financial

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

EuroDry Price Performance

Shares of NASDAQ EDRY opened at $22.00 on Monday. The firm has a market capitalization of $62.48 million, a P/E ratio of -19.30 and a beta of 0.79. The company has a quick ratio of 0.76, a current ratio of 0.89 and a debt-to-equity ratio of 0.72. The stock’s 50-day simple moving average is $22.92 and its two-hundred day simple moving average is $21.78. EuroDry has a twelve month low of $13.86 and a twelve month high of $24.84.

EuroDry (NASDAQ:EDRY) last announced its earnings results on Tuesday, May 21st. The company reported ($1.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.89). The business had revenue of $14.43 million during 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, equities analysts anticipate that EuroDry will post 1.52 EPS for the current fiscal year.

Hedge Funds Weigh In On EuroDry

An institutional investor recently raised its position in EuroDry stock. Linden Thomas Advisory Services LLC lifted its position in EuroDry Ltd. (NASDAQ:EDRY) by 26.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,917 shares of the company’s stock after purchasing an additional 3,362 shares during the quarter. Linden Thomas Advisory Services LLC owned 0.56% of EuroDry worth $303,000 at the end of the most recent quarter. 2.44% of the stock is owned by institutional investors.

EuroDry Company Profile

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.