DryShips Inc. (NASDAQ:DRYS) reached a new 52-week low during trading on Wednesday . The stock traded as low as $1.18 and last traded at $1.18, with a volume of 9,086,127 shares changing hands. The stock had previously closed at $1.41.
Several research firms have recently commented on DRYS. Vetr raised DryShips from a “strong sell” rating to a “strong-buy” rating and set a $211.05 price objective for the company in a report on Monday, May 15th. ValuEngine downgraded DryShips from a “hold” rating to a “sell” rating in a report on Friday, June 23rd.
The company’s 50 day moving average is $5.50 and its 200-day moving average is $1,018.60. The company’s market capitalization is $880400.00.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 4th. Shareholders of record on Thursday, July 20th were issued a $0.094 dividend. This represents a $0.38 annualized dividend and a yield of 12.13%. The ex-dividend date was Tuesday, July 18th. DryShips’s dividend payout ratio (DPR) is currently 0.00%.
A number of large investors have recently added to or reduced their stakes in the company. Creative Planning boosted its stake in DryShips by 498.9% in the first quarter. Creative Planning now owns 111,206 shares of the shipping company’s stock valued at $183,000 after buying an additional 92,637 shares during the period. Citadel Advisors LLC acquired a new stake in DryShips during the first quarter valued at $281,000. KCG Holdings Inc. boosted its stake in DryShips by 175.0% in the first quarter. KCG Holdings Inc. now owns 100,832 shares of the shipping company’s stock valued at $166,000 after buying an additional 64,168 shares during the period. BlueCrest Capital Management Ltd acquired a new stake in DryShips during the first quarter valued at $206,000. Finally, FNY Partners Fund LP acquired a new stake in DryShips during the first quarter valued at $681,000. Institutional investors and hedge funds own 6.40% of the company’s stock.
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About DryShips
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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