EuroDry (NASDAQ:EDRY) Price Target Lowered to $8.00 at Maxim Group

EuroDry (NASDAQ:EDRY) had its price objective lowered by research analysts at Maxim Group from $9.00 to $8.00 in a note issued to investors on Friday, Automated Import reports. The firm currently has a “buy” rating on the stock. Maxim Group’s price target points to a potential upside of 26.98% from the stock’s current price.

EDRY has been the subject of a number of other research reports. ValuEngine raised EuroDry from a “hold” rating to a “buy” rating in a research report on Tuesday, December 10th. Noble Financial reaffirmed a “buy” rating and set a $13.50 target price on shares of EuroDry in a research report on Thursday, November 21st. Finally, Zacks Investment Research raised EuroDry from a “hold” rating to a “buy” rating and set a $6.50 target price for the company in a research report on Thursday.

NASDAQ:EDRY opened at $6.30 on Friday. The stock’s 50 day moving average price is $6.82 and its 200 day moving average price is $7.60. EuroDry has a 52 week low of $4.73 and a 52 week high of $10.90. The company has a market capitalization of $12.88 million, a P/E ratio of -5.94 and a beta of -0.82. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.74 and a current ratio of 0.78.

EuroDry (NASDAQ:EDRY) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.62. EuroDry had a negative return on equity of 1.16% and a negative net margin of 3.90%. The firm had revenue of $7.61 million for the quarter. As a group, sell-side analysts forecast that EuroDry will post -1.29 earnings per share for the current fiscal year.

EuroDry Company Profile

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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