EuroDry (NASDAQ:EDRY) Downgraded to “Market Perform” Rating by Noble Financial

Noble Financial cut shares of EuroDry (NASDAQ:EDRY) from an outperform rating to a market perform rating in a research note released on Friday, Marketbeat reports.

EuroDry Price Performance

Shares of NASDAQ:EDRY opened at $10.90 on Friday. EuroDry has a one year low of $10.04 and a one year high of $24.84. The stock has a market capitalization of $30.96 million, a price-to-earnings ratio of -4.95 and a beta of 0.76. The company has a 50-day simple moving average of $11.59 and a 200-day simple moving average of $16.55. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.74 and a current ratio of 0.84.

Institutional Investors Weigh In On EuroDry

A hedge fund recently raised its stake in EuroDry stock. Linden Thomas Advisory Services LLC increased its position in EuroDry Ltd. (NASDAQ:EDRY) by 16.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,693 shares of the company’s stock after acquiring an additional 4,289 shares during the period. Linden Thomas Advisory Services LLC owned approximately 1.05% of EuroDry worth $333,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 2.44% of the company’s stock.

About EuroDry

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.