EuroDry (NASDAQ:EDRY) Downgraded by TheStreet

TheStreet downgraded shares of EuroDry (NASDAQ:EDRY) from a c rating to a d+ rating in a research note issued to investors on Monday, TheStreetRatingsTable reports.

A number of other analysts have also recently commented on EDRY. Zacks Investment Research upgraded EuroDry from a hold rating to a strong-buy rating and set a $20.00 price target for the company in a research report on Wednesday, May 26th. Maxim Group upped their price target on EuroDry from $30.00 to $45.00 and gave the stock a buy rating in a research report on Wednesday, July 14th. Finally, Noble Financial restated a buy rating and issued a $23.00 price target on shares of EuroDry in a research report on Friday, May 21st.

EDRY stock opened at $24.29 on Monday. EuroDry has a fifty-two week low of $3.42 and a fifty-two week high of $34.65. The firm has a 50-day moving average price of $24.33. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.44 and a current ratio of 0.47. The company has a market capitalization of $62.01 million, a P/E ratio of -12.65 and a beta of 0.21.

EuroDry (NASDAQ:EDRY) last posted its earnings results on Wednesday, May 19th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.08). The firm had revenue of $8.57 million during the quarter, compared to the consensus estimate of $7.60 million. EuroDry had a negative net margin of 10.54% and a negative return on equity of 4.80%. On average, sell-side analysts anticipate that EuroDry will post 7.85 EPS for the current year.

A hedge fund recently bought a new stake in EuroDry stock. Renaissance Technologies LLC purchased a new stake in shares of EuroDry Ltd. (NASDAQ:EDRY) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 13,000 shares of the company’s stock, valued at approximately $71,000. Renaissance Technologies LLC owned approximately 0.56% of EuroDry at the end of the most recent reporting period. Institutional investors own 11.79% of the company’s stock.

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, including bauxite, phosphate, and fertilizers. As of March 31, 2021, it operated a fleet of seven drybulk carriers comprising four Panamax drybulk carriers, one Ultramax drybulk carrier, and two Kamsarmax carriers with a cargo capacity of 528,931 deadweight tons.

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