EuroDry (NASDAQ:EDRY) Upgraded by Wall Street Zen to Strong-Buy Rating

Key Points

• Wall Street Zen upgraded EuroDry (NASDAQ:EDRY) to a "strong-buy", joining recent upgrades from Noble Financial and Zacks, though analyst views remain mixed with a MarketBeat consensus of "Moderate Buy" and an average price target of $23.50.
• EuroDry reported quarterly EPS of $0.87, beating estimates, but the company remains unprofitable with a negative net margin (−8.16%) and negative ROE, and analysts forecast −2.84 EPS for the current year.
• The stock opened at $19.78 with a market cap around $57 million, 50- and 200-day moving averages of $17.74 and $14.58, and a 12‑month trading range of $7.60–$23.98, indicating notable volatility.

EuroDry (NASDAQ:EDRY - Get Free Report) was upgraded by equities research analysts at Wall Street Zen to a "strong-buy" rating in a report released on Saturday.

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

EuroDry Stock Performance

Shares of EDRY opened at $19.78 on Friday. The company's 50 day simple moving average is $17.74 and its 200-day simple moving average is $14.58. The firm has a market cap of $57.16 million, a PE ratio of -12.60 and a beta of 0.89. EuroDry has a 12-month low of $7.60 and a 12-month high of $23.98. The company has a current ratio of 1.53, a quick ratio of 1.46 and a debt-to-equity ratio of 0.89.

EuroDry (NASDAQ:EDRY - Get Free Report) last released its quarterly earnings results on Thursday, February 19th. The company reported $0.87 EPS 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 during the quarter, compared to the consensus estimate of $17.77 million. As a group, equities analysts predict that EuroDry will post -2.84 EPS for the current year.

About EuroDry

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.

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