BidaskClub upgraded shares of DryShips (NASDAQ:DRYS) from a strong sell rating to a sell rating in a research report released on Tuesday morning, BidAskClub reports.

DRYS stock opened at $3.27 on Tuesday. DryShips has a 52-week low of $3.08 and a 52-week high of $7.22. The company has a debt-to-equity ratio of 0.37, a quick ratio of 3.16 and a current ratio of 3.16. The firm has a market cap of $295.72 million, a PE ratio of 12.56 and a beta of 0.36.

DryShips (NASDAQ:DRYS) last posted its quarterly earnings data on Wednesday, May 15th. The shipping company reported $0.02 earnings per share (EPS) for the quarter. DryShips had a return on equity of 3.92% and a net margin of 12.13%. The business had revenue of $43.08 million for the quarter.

Several hedge funds have recently bought and sold shares of DRYS. Creative Planning boosted its holdings in shares of DryShips by 9.4% during the 1st quarter. Creative Planning now owns 41,771 shares of the shipping company’s stock worth $193,000 after buying an additional 3,590 shares during the period. Barclays PLC boosted its holdings in DryShips by 9.6% in the 4th quarter. Barclays PLC now owns 32,893 shares of the shipping company’s stock valued at $186,000 after purchasing an additional 2,876 shares during the period. Jane Street Group LLC boosted its holdings in DryShips by 89.3% in the 1st quarter. Jane Street Group LLC now owns 24,198 shares of the shipping company’s stock valued at $112,000 after purchasing an additional 11,418 shares during the period. Millennium Management LLC bought a new stake in DryShips in the 4th quarter valued at about $123,000. Finally, Marshall Wace LLP bought a new stake in DryShips in the 1st quarter valued at about $62,000. Institutional investors and hedge funds own 0.69% of the company’s stock.

About DryShips

DryShips Inc owns and operates ocean going cargo vessels worldwide. It operates through four segments: Drybulk Carrier, Tanker, Gas Carrier, and Offshore Support. The Drybulk Carrier segment offers drybulk commodities transportation services for the steel, electric utility, construction, and agri-food industries.

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