DryShips Inc. (NASDAQ:DRYS) shares dropped 5.3% on Tuesday . The stock traded as low as $2.25 and last traded at $2.14. Approximately 5,264,932 shares were traded during trading, a decline of 42% from the average daily volume of 9,077,120 shares. The stock had previously closed at $2.26.

DRYS has been the subject of several research analyst reports. Vetr downgraded DryShips from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 10th. ValuEngine raised DryShips from a “sell” rating to a “hold” rating in a research note on Thursday, June 29th.

The firm’s market capitalization is $565160.00. The firm has a 50-day moving average of $2.70 and a 200 day moving average of $591.79.

DryShips (NASDAQ:DRYS) last posted its quarterly earnings results on Wednesday, August 30th. The shipping company reported ($37.12) EPS for the quarter. The business had revenue of $16.38 million during the quarter. DryShips had a negative net margin of 218.76% and a negative return on equity of 49.79%. On average, analysts anticipate that DryShips Inc. will post $0.07 earnings per share for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Creative Planning lifted its holdings in shares of DryShips by 337.7% in the 2nd quarter. Creative Planning now owns 486,717 shares of the shipping company’s stock valued at $618,000 after buying an additional 375,511 shares during the period. Citadel Advisors LLC acquired a new position in DryShips during the first quarter worth $281,000. Virtu KCG Holdings LLC raised its holdings in DryShips by 36.6% during the second quarter. Virtu KCG Holdings LLC now owns 137,710 shares of the shipping company’s stock worth $175,000 after purchasing an additional 36,878 shares during the last quarter. BlueCrest Capital Management Ltd acquired a new position in DryShips during the first quarter worth $206,000. Finally, KCG Holdings Inc. raised its holdings in DryShips by 175.0% during the first quarter. KCG Holdings Inc. now owns 100,832 shares of the shipping company’s stock worth $166,000 after purchasing an additional 64,168 shares during the last quarter. 6.67% of the stock is owned by institutional investors and hedge funds.

COPYRIGHT VIOLATION NOTICE: This story was first posted by Daily Political and is the property of of Daily Political. If you are accessing this story on another site, it was illegally stolen and reposted in violation of U.S. & international copyright & trademark law. The legal version of this story can be viewed at https://www.dailypolitical.com/2017/09/05/dryships-inc-drys-trading-down-5-3.html.

DryShips Company Profile

DryShips, Inc is a holding company. The Company owns drybulk carriers and offshore support vessels. The Company operates through two segments: the drybulk carrier and the offshore support. Under its drybulk segment, the Company operates as a provider of drybulk commodities transportation services for the steel, electric utility, construction and agri-food industries.