DryShips (NASDAQ:DRYS) was upgraded by research analysts at ValuEngine from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.

Shares of DryShips (NASDAQ:DRYS) traded down $0.10 during midday trading on Wednesday, reaching $3.85. The company’s stock had a trading volume of 1,888,011 shares, compared to its average volume of 3,899,020. The company has a debt-to-equity ratio of 0.11, a quick ratio of 4.01 and a current ratio of 4.01. DryShips has a 1 year low of $0.98 and a 1 year high of $48,216.00.

A number of hedge funds and other institutional investors have recently made changes to their positions in DRYS. Sei Investments Co. acquired a new position in DryShips during the third quarter worth approximately $200,000. Virtu KCG Holdings LLC increased its position in DryShips by 36.6% during 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 during the last quarter. Finally, FNY Partners Fund LP increased its position in DryShips by 89.8% during 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 during the last quarter. 2.37% of the stock is currently owned by hedge funds and other institutional investors.

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About DryShips

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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