DryShips Inc. (NASDAQ:DRYS) was the target of a significant increase in short interest in the month of March. As of March 15th, there was short interest totalling 11,090,933 shares, an increase of 26.3% from the February 28th total of 8,780,318 shares. Based on an average daily volume of 37,109,245 shares, the days-to-cover ratio is presently 0.3 days. Currently, 30.6% of the company’s stock are short sold.
Separately, Vetr upgraded shares of DryShips from a “buy” rating to a “strong-buy” rating and set a $5.41 price objective on the stock in a report on Wednesday, February 1st.
DryShips (NASDAQ:DRYS) traded down 8.28% during midday trading on Friday, hitting $1.55. 10,958,028 shares of the stock were exchanged. DryShips has a 12 month low of $0.58 and a 12 month high of $2,227.20. The firm’s 50 day moving average price is $1.53 and its 200 day moving average price is $32.92. The company’s market cap is $33.91 million.
The firm also recently announced a special dividend, which will be paid on Monday, May 15th. Shareholders of record on Monday, May 1st will be issued a $0.053 dividend. The ex-dividend date of this dividend is Thursday, April 27th.
An institutional investor recently raised its position in DryShips stock. Creative Planning raised its position in shares of DryShips Inc. (NASDAQ:DRYS) by 498.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 111,206 shares of the shipping company’s stock after buying an additional 92,637 shares during the period. Creative Planning owned 0.13% of DryShips worth $183,000 as of its most recent SEC filing. 14.01% of the stock is owned by institutional investors.
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DryShips Company Profile
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.
