In a report released today, Poe Fratt from Noble Financial maintained a Buy rating on EuroDry (EDRY), with a price target of $10.00. The company’s shares closed last Monday at $5.17.
According to TipRanks.com, Fratt is currently ranked with 0 stars on a 0-5 stars ranking scale, with an average return of -7.9% and a 45.2% success rate. Fratt covers the Industrial Goods sector, focusing on stocks such as Energy Services of America, Grindrod Shipping Holdings, and Great Lakes Dredge & Dock.
EuroDry has an analyst consensus of Moderate Buy, with a price target consensus of $10.00.
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Based on EuroDry’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $4.02 million and GAAP net loss of $3.83 million. In comparison, last year the company earned revenue of $6.19 million and had a GAAP net loss of $1.81 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.