DryShips Inc. (DRYS) Short Interest Up 118.9% in July
DryShips Inc. (NASDAQ:DRYS) was the target of a large increase in short interest during the month of July. As of July 14th, there was short interest totalling 4,473,596 shares, an increase of 118.9% from the June 30th total of 2,043,731 shares. Based on an average trading volume of 9,302,063 shares, the days-to-cover ratio is presently 0.5 days.
Several large investors have recently bought and sold shares of DRYS. Creative Planning boosted its stake in DryShips by 337.7% in the second quarter. Creative Planning now owns 486,717 shares of the shipping company’s stock valued at $618,000 after buying an additional 375,511 shares in the last quarter. Citadel Advisors LLC acquired a new position in shares of DryShips during the first quarter valued at $281,000. BlueCrest Capital Management Ltd acquired a new position in shares of DryShips during the first quarter valued at $206,000. KCG Holdings Inc. raised its position in shares of 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 last quarter. Finally, FNY Partners Fund LP acquired a new position in shares of DryShips during the first quarter valued at $681,000. 6.40% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have issued reports on DRYS. ValuEngine raised DryShips from a “sell” rating to a “hold” rating in a research note on Thursday, June 29th. Vetr raised DryShips from a “strong sell” rating to a “sell” rating and set a $16.24 price objective on the stock in a research note on Monday, June 26th.
DryShips (NASDAQ DRYS) opened at 1.04 on Thursday. The stock’s market cap is $295360.00. DryShips has a one year low of $1.02 and a one year high of $799,681.62. The stock has a 50 day moving average price of $32.02 and a 200-day moving average price of $2,746.90.
The business also recently declared a quarterly dividend, which will be paid on Friday, August 4th. Investors of record on Thursday, July 20th will be issued a $0.094 dividend. The ex-dividend date is Tuesday, July 18th. This represents a $0.38 annualized dividend and a dividend yield of 36.15%. DryShips’s dividend payout ratio is presently 0.00%.
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.
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