Movers and SHAKERS
EuroDry Ltd. (EDRY)
NobleCon 17 Presentations Highlight Favorable Outlook
EuroDry Ltd. was formed on January 8, 2018 under the laws of the Republic of the Marshall Islands and trades on the NASDAQ Capital Market under the ticker EDRY. EDRY is the product of a spin-off of the dry bulk fleet by Euroseas (ESEA) completed in May 2018. For every five ESEA shares, ESEA shareholders received one EDRY share. There are currently ~2.2 million EDRY shares outstanding. EuroDry operates in the dry bulk shipping markets. EuroDry’s operations are managed by Eurobulk Ltd., an affiliated ship management company, and Eurobulk FE (Far East) Ltd, which are responsible for the day-to-day commercial and technical management and operation of the fleet. EuroDry employs the fleet on spot and period charters and through pool arrangements.
Poe Fratt, Senior Research Analyst, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
NobleCon17 presentations highlight firmer dry bulk market and high operating leverage. CFO Dr. Tasos Aslidis offered a solid case for EDRY in a presentation last week, and the positive dry bulk market trends were highlighted on the industry panel. Go to Channelchek: https://www.channelchek.com/news-channel/NobleCon17_Rebroadcast for replay info.
Thesis intact. While the past two years were negatively impacted by extreme factors, the supply/demand fundamentals appear favorable and the year has started on a better-than-expected note. The order book and supply growth remain historically low due to rate volatility, regulatory uncertainty and declining capital availability, while demand should rebound on the back of global stimulus packages and ...
This research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.