DryShips Inc. (NASDAQ:DRYS) gapped up before the market opened on Monday . The stock had previously closed at $3.83, but opened at $3.94. DryShips shares last traded at $4.15, with a volume of 3514981 shares changing hands.
A number of equities research analysts have issued reports on DRYS shares. ValuEngine raised shares of DryShips from a “sell” rating to a “hold” rating in a report on Wednesday, December 6th. BidaskClub raised shares of DryShips from a “sell” rating to a “hold” rating in a report on Thursday, January 4th.
The stock has a market cap of $432.74, a price-to-earnings ratio of -0.02 and a beta of 1.56. The company has a quick ratio of 4.01, a current ratio of 4.01 and a debt-to-equity ratio of 0.30.
The company also recently declared a quarterly dividend, which was paid on Thursday, March 8th. Stockholders of record on Tuesday, February 20th were issued a $0.024 dividend. The ex-dividend date was Friday, February 16th. This represents a $0.10 annualized dividend and a dividend yield of 2.41%. DryShips’s payout ratio is currently -0.05%.
Several institutional investors have recently added to or reduced their stakes in DRYS. Sei Investments Co. bought a new position in shares of DryShips in the third quarter worth $200,000. Covalis Capital LLP bought a new position in shares of DryShips in the fourth quarter worth $136,000. Centenus Global Management LP bought a new position in shares of DryShips in the fourth quarter worth $275,000. Deutsche Bank AG increased its holdings in shares of DryShips by 3,145.4% in the fourth quarter. Deutsche Bank AG now owns 75,424 shares of the shipping company’s stock worth $266,000 after purchasing an additional 73,100 shares during the period. Finally, Millennium Management LLC bought a new position in shares of DryShips in the fourth quarter worth $777,000. 3.17% of the stock is currently owned by hedge funds and other institutional investors.
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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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