EuroDry (NASDAQ:EDRY) Downgraded by Noble Financial to “Market Perform”

Noble Financial cut shares of EuroDry (NASDAQ:EDRY) from an outperform rating to a market perform rating in a research note issued to investors on Friday morning, MarketBeat.com reports.

EuroDry Price Performance

EDRY stock opened at $10.90 on Friday. The company has a 50 day simple moving average of $11.59 and a 200 day simple moving average of $16.45. The stock has a market cap of $30.96 million, a price-to-earnings ratio of -4.95 and a beta of 0.76. EuroDry has a 1 year low of $10.04 and a 1 year high of $24.84. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.84 and a quick ratio of 0.74.

Institutional Inflows and Outflows

An institutional investor recently raised its position in EuroDry stock. Linden Thomas Advisory Services LLC raised its position in EuroDry Ltd. (NASDAQ:EDRY) by 16.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,693 shares of the company’s stock after purchasing an additional 4,289 shares during the quarter. Linden Thomas Advisory Services LLC owned 1.05% of EuroDry worth $333,000 as of its most recent SEC filing. 2.44% of the stock is currently owned by institutional investors.

EuroDry Company Profile

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.