Maxim Group analyst Tate Sullivan maintained a Buy rating on EuroDry (EDRY) yesterday and set a price target of $9.00. The company’s shares closed last Monday at $7.92.
According to TipRanks.com, Sullivan ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -6.1% and a 46.0% success rate. Sullivan covers the Basic Materials sector, focusing on stocks such as Natural Gas Services Group, Recon Technology, and Mistras Group.
Currently, the analyst consensus on EuroDry is a Moderate Buy with an average price target of $13.50.
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Based on EuroDry’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $434K. In comparison, last year the company had a net profit of $1.66 million.
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Eurodry Ltd. engages in the provision of ocean-going transportation services. It owns and operates drybulk carriers that transport major bulks such as iron ore, coal and grains, and minor bulks , which includes bauxite, phosphate, and fertilizers. The company was founded on January 8, 2018 and is headquartered in Athens, Greece.