DryShips Inc. (NASDAQ:DRYS) Short Interest Up 154.1% in July
DryShips Inc. (NASDAQ:DRYS) saw a large increase in short interest in the month of July. As of July 31st, there was short interest totalling 1,623,980 shares, an increase of 154.1% from the July 14th total of 639,085 shares. Based on an average trading volume of 13,007,949 shares, the short-interest ratio is currently 0.1 days. Currently, 8.5% of the shares of the stock are short sold.
Shares of DryShips (NASDAQ:DRYS) opened at 3.10 on Friday. The stock’s 50 day moving average is $5.50 and its 200-day moving average is $1,018.60. The company’s market cap is $880400.00. DryShips has a one year low of $0.98 and a one year high of $799,680.00.
The business also recently declared a quarterly dividend, which was paid on Friday, August 4th. Shareholders of record on Thursday, July 20th were paid a $0.094 dividend. The ex-dividend date of this dividend was Tuesday, July 18th. This represents a $0.38 dividend on an annualized basis and a yield of 12.13%. DryShips’s dividend payout ratio is presently 0.00%.
A number of brokerages have recently weighed in on DRYS. Vetr raised shares of DryShips from a “strong sell” rating to a “strong-buy” rating and set a $211.05 price target for the company in a report on Monday, May 15th. ValuEngine downgraded shares of DryShips from a “hold” rating to a “sell” rating in a report on Friday, June 23rd.
Institutional investors have recently added to or reduced their stakes in the company. FNY Partners Fund LP boosted its position in DryShips by 89.8% in the second quarter. FNY Partners Fund LP now owns 28,000 shares of the shipping company’s stock worth $248,000 after buying an additional 13,250 shares in the last quarter. Virtu KCG Holdings LLC boosted its position in DryShips by 36.6% in the second quarter. Virtu KCG Holdings LLC now owns 137,710 shares of the shipping company’s stock worth $175,000 after buying an additional 36,878 shares in the last quarter. KCG Holdings Inc. boosted its position in DryShips by 175.0% in the first quarter. KCG Holdings Inc. now owns 100,832 shares of the shipping company’s stock worth $166,000 after buying an additional 64,168 shares in the last quarter. Creative Planning boosted its position in DryShips by 498.9% in the first quarter. Creative Planning now owns 111,206 shares of the shipping company’s stock worth $183,000 after buying an additional 92,637 shares in the last quarter. Finally, BlueCrest Capital Management Ltd bought a new position in DryShips during the first quarter worth approximately $206,000. 6.40% of the stock is owned by institutional investors and hedge funds.
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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.
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