Traders Purchase High Volume of Put Options on DryShips (DRYS)
DryShips (NASDAQ:DRYS) was the target of some unusual options trading activity on Monday. Investors purchased 9,164 put options on the company, AnalystRatingsNetwork.com reports. This is an increase of 151% compared to the average volume of 3,651 put options.
Several analysts have recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of DryShips in a research note to investors on Monday, December 16th. They now have a $3.75 price target on the stock. Separately, analysts at Deutsche Bank raised their price target on shares of DryShips from $2.00 to $3.00 in a research note to investors on Wednesday, November 6th. They now have a “hold” rating on the stock. Finally, analysts at Jefferies Group raised their price target on shares of DryShips from $2.00 to $3.00 in a research note to investors on Tuesday, October 22nd. They now have a “hold” rating on the stock. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. DryShips presently has an average rating of “Hold” and a consensus price target of $3.13.
Shares of DryShips (NASDAQ:DRYS) opened at 4.04 on Tuesday. DryShips has a 52-week low of $1.65 and a 52-week high of $5.00. The stock’s 50-day moving average is $3.63 and its 200-day moving average is $2.86. The company’s market cap is $1.631 billion.
DryShips (NASDAQ:DRYS) last posted its quarterly earnings results on Monday, November 4th. The company reported ($0.07) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.05) by $0.02. The company had revenue of $404.94 million for the quarter, compared to the consensus estimate of $352.69 million. During the same quarter in the previous year, the company posted ($0.09) earnings per share. The company’s revenue for the quarter was up 17.8% on a year-over-year basis. Analysts expect that DryShips will post $-0.28 EPS for the current fiscal year.
DryShips Inc (NASDAQ:DRYS) is a holding company.
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