Shares of DryShips Inc. (NASDAQ:DRYS) gapped up before the market opened on Thursday . The stock had previously closed at $2.26, but opened at $2.16. DryShips shares last traded at $2.46, with a volume of 5,402,171 shares traded.

A number of research firms recently weighed in on DRYS. Vetr lowered shares of DryShips from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 10th. ValuEngine upgraded shares of DryShips from a “sell” rating to a “hold” rating in a research note on Thursday, June 29th.

The company’s 50-day moving average is $2.36 and its 200 day moving average is $476.20. The company’s market cap is $721360.00.

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

A number of institutional investors and hedge funds have recently modified their holdings of the stock. FNY Partners Fund LP grew its stake in DryShips by 89.8% during the 2nd quarter. FNY Partners Fund LP now owns 28,000 shares of the shipping company’s stock worth $248,000 after buying an additional 13,250 shares during the last quarter. Virtu KCG Holdings LLC grew its stake in DryShips by 36.6% during the 2nd quarter. Virtu KCG Holdings LLC now owns 137,710 shares of the shipping company’s stock worth $175,000 after buying an additional 36,878 shares during the last quarter. KCG Holdings Inc. grew its stake in DryShips by 175.0% during the 1st quarter. KCG Holdings Inc. now owns 100,832 shares of the shipping company’s stock worth $166,000 after buying an additional 64,168 shares during the last quarter. BlueCrest Capital Management Ltd bought a new position in DryShips during the 1st quarter worth $206,000. Finally, Citadel Advisors LLC bought a new position in DryShips during the 1st quarter worth $281,000. Hedge funds and other institutional investors own 6.67% of the company’s stock.

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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.

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