DryShips Inc. (DRYS) Trading Up 8.5%
DryShips Inc. (NASDAQ:DRYS)’s share price was up 8.5% during trading on Wednesday . The stock traded as high as $2.18 and last traded at $2.16. Approximately 4,179,792 shares changed hands during trading, a decline of 63% from the average daily volume of 11,375,000 shares. The stock had previously closed at $1.99.
Several equities analysts have recently commented on DRYS shares. Vetr upgraded shares of DryShips from a “strong sell” rating to a “strong-buy” rating and set a $211.05 price target for the company in a research report on Monday, May 15th. ValuEngine lowered shares of DryShips from a “hold” rating to a “sell” rating in a research report on Friday, June 23rd.
The company has a 50-day moving average of $2.47 and a 200-day moving average of $15.03. The stock’s market capitalization is $613440.00.
DryShips (NASDAQ:DRYS) last released its quarterly earnings data on Wednesday, August 30th. The shipping company reported ($37.12) earnings per share (EPS) for the quarter. DryShips had a negative return on equity of 49.79% and a negative net margin of 218.76%. The company had revenue of $16.38 million for the quarter. Equities research analysts expect that DryShips Inc. will post $0.07 EPS for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the business. Citadel Advisors LLC acquired a new position in DryShips during the first quarter worth $281,000. KCG Holdings Inc. raised its stake 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 acquiring an additional 64,168 shares in the last quarter. FNY Partners Fund LP acquired a new position in DryShips during the first quarter worth $681,000. Creative Planning raised its stake in DryShips by 337.7% during the second quarter. Creative Planning now owns 486,717 shares of the shipping company’s stock worth $618,000 after acquiring an additional 375,511 shares in the last quarter. Finally, BlueCrest Capital Management Ltd acquired a new position in DryShips during the first quarter worth $206,000. Hedge funds and other institutional investors own 6.67% of the company’s stock.
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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.
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