EuroDry (NASDAQ:EDRY) Lowered 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 morning, Marketbeat.com reports.

EuroDry Price Performance

EDRY stock opened at $10.90 on Friday. The stock’s 50 day moving average price is $11.59 and its 200 day moving average price is $16.55. The firm has a market cap of $30.96 million, a P/E ratio of -4.95 and a beta of 0.76. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.74 and a current ratio of 0.84. EuroDry has a 1 year low of $10.04 and a 1 year high of $24.84.

Institutional Trading of EuroDry

A hedge fund recently raised its stake in EuroDry stock. Linden Thomas Advisory Services LLC grew its position in shares of EuroDry Ltd. (NASDAQ:EDRY) by 16.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,693 shares of the company’s stock after purchasing an additional 4,289 shares during the period. Linden Thomas Advisory Services LLC owned 1.05% of EuroDry worth $333,000 at the end of the most recent quarter. 2.44% of the stock is currently owned by institutional investors.

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.