Today’s Featured Stock
Valued at $141 million, EuroDry (EDRY) is an owner and operator of drybulk vessels and a provider of seaborne transportation for drybulk cargoes. It operates 11 dry bulk carriers across the Ultramax, Kamsarmax, Panamax, and Supramax classes.
What I’m Watching
I found today’s Chart of the Day by using Barchart’s powerful screening functions to sort for stocks with the highest technical buy signals and superior current momentum. I then used Barchart’s Flipcharts feature to review the charts for consistent price appreciation. EDRY checks those boxes. The Trend Seeker issued a new “Buy” signal on July 21. Since then, the stock has gained 102.9%.
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www.barchart.comBarchart’s Technical Indicators for EuroDry
Editor’s Note: The technical indicators below are updated live during the session every 20 minutes and can therefore change each day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report. These technical indicators form the Barchart Opinion on a particular stock.
EuroDry scored an all-time high of $53.93 on Aug. 25.
EuroDry has a Weighted Alpha of 287.32. EDRY has a 100% “Buy” opinion from Barchart. The stock has gained 348.99% over the past 52 weeks. EuroDry has its Trend Seeker “Buy” signal intact. The stock recently traded at $49.23 with a 50-day moving average of $30.94. EDRY had 14 new highs and gained 84.61% in the last month. 60-month beta of 0.68. Relative Strength Index (RSI) is at 69.97. There’s a technical support level around $47.27.Don’t Forget the Fundamentals
$141 million market capitalization. 15.74x trailing price-earnings ratio. Revenue is projected to grow 32.41% this year and another 8.53% next year. Earnings are estimated to increase by 348.04% this year but decrease by 1.29% next year.Analyst and Investor Sentiment on EuroDry
The Wall Street analysts followed by Barchart give the stock 3 “Strong Buy” opinions with price targets between $40 and $49. Value Line does not rate foreign companies. Morningstar thinks the stock is 18% overvalued. CFRA’s MarketScope rates the stock as “Strong Buy.” 5,820 investors are following the stock on Seeking Alpha, which rates it a “Strong Buy.” It also rates it as the best Marine Transportation stock. TipRanks’ analysts’ price targets are between $40 and $49 with a consensus price target of $45.33. Short interest is 1.15% of the float with 1.00 days to cover the float.The Bottom Line on EuroDry
This is a stock that seems to be positive in every category, especially in growth, momentum, and analysts’ upward revisions.
Additional disclosure: The Barchart Chart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stocks are extremely volatile and speculate should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance.
On the date of publication, Jim Van Meerten did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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