EuroDry (NASDAQ:EDRY) Trading Up 11.1%

EuroDry Ltd (NASDAQ:EDRY)’s stock price rose 11.1% on Thursday . The company traded as high as $4.38 and last traded at $4.22. Approximately 137,174 shares changed hands during mid-day trading, an increase of 376% from the average daily volume of 28,819 shares. The stock had previously closed at $3.80.

A number of analysts have recently issued reports on the company. Zacks Investment Research lowered EuroDry from a “hold” rating to a “strong sell” rating in a research report on Monday, August 17th. Noble Financial reissued a “buy” rating and set a $10.00 price objective on shares of EuroDry in a report on Tuesday, August 11th. Finally, Maxim Group reissued a “buy” rating and issued a $7.50 target price on shares of EuroDry in a research report on Friday, August 7th.

The company has a current ratio of 0.38, a quick ratio of 0.33 and a debt-to-equity ratio of 1.36. The company has a market cap of $9.73 million, a price-to-earnings ratio of -1.30 and a beta of -0.22. The firm has a 50-day moving average price of $3.78 and a 200 day moving average price of $4.08.

EuroDry (NASDAQ:EDRY) last released its quarterly earnings data on Thursday, August 6th. The company reported ($1.73) EPS for the quarter, missing analysts’ consensus estimates of ($1.15) by ($0.58). EuroDry had a negative return on equity of 10.57% and a negative net margin of 21.21%. The business had revenue of $4.02 million during the quarter, compared to analyst estimates of $4.85 million. Research analysts anticipate that EuroDry Ltd will post -3.55 earnings per share for the current fiscal year.

About EuroDry (NASDAQ:EDRY)

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 comprising bauxite, phosphate, and fertilizers. As of November 15, 2018, it operated a fleet of six vessels, including one Ultramax, two Kamsarmax, and three Panamax drybulk carriers with a cargo capacity of 453,086 deadweight tons.

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