Maxim Group Sticks to Their Buy Rating for EuroDry Ltd (EDRY)


Maxim Group analyst James Jang maintained a Buy rating on EuroDry Ltd (NASDAQ: EDRY) today and set a price target of $13. The company’s shares closed yesterday at $9.78.

Jang commented:

“EuroDry announced a successful refinancing of its credit facilities, increasing liquidity by $8M and pushing out maturities to 2022–2025. With the refinancings in the rear view, we expect the company to turn its attention to fleet expansion and/or redeeming the Series B Preferred Shares.”

According to TipRanks.com, Jang is a 4-star analyst with an average return of 14.8% and a 42.1% success rate. Jang covers the Services sector, focusing on stocks such as Sino-Global Shipping America, Dynagas LNG Partners LP, and Nordic American Tanker.

EuroDry Ltd has an analyst consensus of Moderate Buy, with a price target consensus of $12.50.

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The company has a one-year high of $14.50 and a one-year low of $0. Currently, EuroDry Ltd has an average volume of 41.74K.

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Eurodry Ltd. provides ocean-going transportation services worldwide. It owns and operates drybulk carriers that transport major bulks such as iron ore, coal and grains, and minor bulks such as bauxite, phosphate and fertilizers. The company was founded on January 8, 2018 and is headquartered in Athens, Greece.

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