DryShips (DRYS) Shares Up 10%
DryShips Inc. (NASDAQ:DRYS) shares shot up 10% during mid-day trading on Tuesday . The company traded as high as $3.82 and last traded at $3.75. 2,496,558 shares were traded during mid-day trading, an increase of 44% from the average session volume of 1,739,202 shares. The stock had previously closed at $3.41.
A number of research firms recently issued reports on DRYS. BidaskClub lowered DryShips from a “sell” rating to a “strong sell” rating in a report on Tuesday, January 30th. ValuEngine upgraded DryShips from a “sell” rating to a “hold” rating in a report on Wednesday, December 6th.
The company has a debt-to-equity ratio of 0.11, a current ratio of 4.01 and a quick ratio of 4.01.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 8th. Investors of record on Tuesday, February 20th will be issued a $0.024 dividend. The ex-dividend date of this dividend is Friday, February 16th. This represents a $0.10 dividend on an annualized basis and a yield of 2.57%. DryShips’s dividend payout ratio (DPR) is presently 0.00%.
A number of large investors have recently added to or reduced their stakes in DRYS. Millennium Management LLC purchased a new position in DryShips in the fourth quarter valued at $777,000. Sei Investments Co. purchased a new stake in DryShips during the 3rd quarter worth about $200,000. Centenus Global Management LP purchased a new stake in DryShips during the 4th quarter worth about $275,000. Deutsche Bank AG lifted its holdings in DryShips by 3,145.4% during the 4th 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. Finally, Covalis Capital LLP purchased a new stake in DryShips during the 4th quarter worth about $136,000. Hedge funds and other institutional investors own 2.15% 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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