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Maxim Group Thinks EuroDry’s Stock is Going to Recover

Maxim Group analyst Tate Sullivan maintained a Buy rating on EuroDry (EDRYResearch Report) yesterday and set a price target of $48.00. The company’s shares closed last Friday at $17.66, close to its 52-week low of $15.19.

According to TipRanks.com, Sullivan is a 5-star analyst with an average return of 14.9% and a 41.6% success rate. Sullivan covers the Industrial Goods sector, focusing on stocks such as Natural Gas Services Group, Seanergy Maritime, and Globus Maritime.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for EuroDry with a $46.50 average price target.

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Based on EuroDry’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $18.28 million and net profit of $10.49 million. In comparison, last year the company earned revenue of $8.57 million and had a net profit of $864.5K.

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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.

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