Investors Buy Large Volume of DryShips Put Options (DRYS)
DryShips (NASDAQ:DRYS) was the target of unusually large options trading activity on Wednesday. Stock traders acquired 7,465 put options on the stock, American Banking and Market News reports. This represents an increase of 151% compared to the typical daily volume of 2,977 put options.
A number of analysts have recently weighed in on DRYS shares. Analysts at Zacks reiterated a “neutral” rating on shares of DryShips (NASDAQ:DRYS) in a research note to investors on Friday, September 6th. They now have a $3.00 price target on the stock. Separately, analysts at UBS AG initiated coverage on shares of DryShips (NASDAQ:DRYS) in a research note to investors on Thursday, August 22nd. They set an “outperform” rating on the stock. They noted that the move was a valuation call. Finally, analysts at Imperial Capital initiated coverage on shares of DryShips (NASDAQ:DRYS) in a research note to investors on Thursday, August 22nd. They set an “outperform” rating and a $2.75 price target on the stock.
Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $2.40.
DryShips (NASDAQ:DRYS) traded up 9.17% during mid-day trading on Wednesday, hitting $3.93. The stock had a trading volume of 45,357,352 shares. DryShips has a 52-week low of $1.46 and a 52-week high of $3.99. The stock has a 50-day moving average of $2.6 and a 200-day moving average of $2.07. The company’s market cap is $1.587 billion.
DryShips (NASDAQ:DRYS) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.02. The company had revenue of $336.10 million for the quarter, compared to the consensus estimate of $329.57 million. During the same quarter in the previous year, the company posted ($0.05) earnings per share. The company’s revenue for the quarter was up .0% on a year-over-year basis. Analysts expect that DryShips will post $-0.25 EPS for the current fiscal year.
DryShips Inc (NASDAQ:DRYS) is a holding company.
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