DryShips Inc. (NASDAQ:DRYS) shares 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 changing hands.

A number of research analysts have recently weighed in on the stock. ValuEngine downgraded shares of DryShips from a “hold” rating to a “sell” rating in a report on Friday, June 23rd. Vetr upgraded shares of DryShips from a “strong sell” rating to a “sell” rating and set a $16.24 price target on the stock in a report on Monday, June 26th.

The firm’s market cap is $670240.00. The firm’s 50-day moving average price is $2.32 and its 200-day moving average price is $14.76.

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

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. FNY Partners Fund LP boosted its holdings in DryShips by 89.8% during the second quarter. FNY Partners Fund LP now owns 28,000 shares of the shipping company’s stock worth $248,000 after purchasing an additional 13,250 shares during the last quarter. Virtu KCG Holdings LLC boosted 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. KCG Holdings Inc. boosted 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. BlueCrest Capital Management Ltd acquired a new position in DryShips during the first quarter worth $206,000. Finally, Citadel Advisors LLC acquired a new position in DryShips during the first quarter worth $281,000. Institutional investors and hedge funds 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.