EuroDry Ltd. Common Shares (EDRY)
EuroDry Ltd. is a shipping company specializing in the ownership and operation of dry bulk vessels. Founded with the goal of providing reliable transportation for bulk commodities, it primarily operates in the dry bulk shipping industry, serving global markets. The company's fleet includes various sizes of dry bulk vessels, and it focuses on freight services for commodities such as iron ore, coal, and grains. EuroDry is publicly traded and aims to leverage market opportunities within the shipping sector.
Company News
EuroDry Ltd. announced the sale of its M/V Eirini P., a 76,466 dwt drybulk vessel built in 2004, to an unaffiliated third party for approximately $8.5 million. The sale is part of the company's fleet renewal strategy and is expected to generate a gain of about $0.6 million.
EuroDry (EDRY) delivered earnings and revenue surprises of -306.90% and 4.74%, respectively, for the quarter ended March 2024. Do the numbers hold clues to what lies ahead for the stock?
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EuroDry (EDRY) - a small, Greece-based dry bulk shipper - is trading at a substantial discount to NAV. EDRY may have 35% return from current levels by year-end.
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