Shares of DryShips Inc. (NASDAQ:DRYS) dropped 6.6% during mid-day trading on Tuesday . The company traded as low as $5.84 and last traded at $6.10. Approximately 3,413,851 shares changed hands during trading, an increase of 143% from the average daily volume of 1,405,562 shares. The stock had previously closed at $6.53.
DRYS has been the subject of a number of research analyst reports. BidaskClub upgraded shares of DryShips from a “hold” rating to a “buy” rating in a report on Tuesday. ValuEngine upgraded shares of DryShips from a “sell” rating to a “hold” rating in a report on Wednesday, May 2nd.
The company has a quick ratio of 3.77, a current ratio of 3.77 and a debt-to-equity ratio of 0.39.
DryShips (NASDAQ:DRYS) last posted its quarterly earnings data on Tuesday, May 8th. The shipping company reported $0.01 earnings per share (EPS) for the quarter. DryShips had a negative net margin of 13.98% and a negative return on equity of 5.23%. The business had revenue of $44.06 million during the quarter.
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 11th. Investors of record on Friday, May 25th were issued a dividend of $0.0246 per share. This represents a $0.10 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date was Thursday, May 24th. This is an increase from DryShips’s previous quarterly dividend of $0.02.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Deutsche Bank AG increased its holdings in DryShips by 3,145.4% during the fourth quarter. Deutsche Bank AG now owns 75,424 shares of the shipping company’s stock worth $266,000 after buying an additional 73,100 shares during the last quarter. Centenus Global Management LP purchased a new position in shares of DryShips in the fourth quarter worth about $275,000. Millennium Management LLC purchased a new position in shares of DryShips in the fourth quarter worth about $777,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of DryShips in the first quarter worth about $978,000. Institutional investors and hedge funds own 3.52% of the company’s stock.
DryShips Inc owns and operates ocean going cargo vessels worldwide. It operates through two segments, Drybulk and Offshore Support. The Drybulk segment offers drybulk commodities transportation services for the steel, electric utility, construction, and agri-food industries. The Offshore Support segment provides its services to the global offshore energy industry.
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