BidaskClub downgraded shares of DryShips (NASDAQ:DRYS) from a buy rating to a hold rating in a research report report published on Saturday morning, BidAskClub reports.

DRYS stock opened at $5.23 on Friday. DryShips has a 52-week low of $3.08 and a 52-week high of $7.22. The firm has a market capitalization of $456.21 million, a price-to-earnings ratio of 19.22 and a beta of 0.23. The firm has a 50 day moving average price of $4.46 and a 200-day moving average price of $4.28. The company has a debt-to-equity ratio of 0.37, a quick ratio of 3.16 and a current ratio of 3.16.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC boosted its position in shares of DryShips by 379.4% in the second quarter. Tower Research Capital LLC TRC now owns 11,663 shares of the shipping company’s stock worth $45,000 after purchasing an additional 9,230 shares during the period. Marshall Wace LLP bought a new stake in shares of DryShips during the 1st quarter worth approximately $62,000. Citadel Advisors LLC purchased a new stake in shares of DryShips during the second quarter valued at $91,000. Quinn Opportunity Partners LLC purchased a new stake in DryShips in the 2nd quarter valued at about $104,000. Finally, Millennium Management LLC purchased a new stake in shares of DryShips in the fourth quarter valued at approximately $123,000. Institutional investors own 1.39% of the company’s stock.

DryShips Company Profile

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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