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EuroDry stock surges nearly 350% in a year on momentum
EuroDry (EDRY) has jumped 102.9% since a new “Buy” signal on July 21, while Morningstar flags the stock as 18% overvalued.
EuroDry (EDRY) has surged nearly 350% over the past year, powered by strong technical momentum and supportive analyst sentiment, according to Yahoo Finance.
The company, which owns and operates drybulk vessels and provides seaborne transportation for drybulk cargoes, operates 11 dry bulk carriers across Ultramax, Kamsarmax, Panamax, and Supramax classes.
Yahoo Finance cited Barchart’s technical screening, saying EDRY has delivered consistent price appreciation and received a “Buy” signal from Trend Seeker on July 21. Since that date, the stock has gained 102.9%.
The article also points to differing views on valuation, with Morningstar flagging EDRY as 18% overvalued. It adds that Barchart highlights 3 “Strong Buy” opinions with price targets between $40 and $49, while earnings are estimated to rise 348.0% this year, before declining 1.3% next year.