Shares of DryShips Inc. (NASDAQ:DRYS) were down 6.8% on Monday . The company traded as low as $2.31 and last traded at $2.33. Approximately 2,595,097 shares were traded during trading, a decline of 75% from the average daily volume of 10,493,500 shares. The stock had previously closed at $2.50.

A number of analysts have weighed in on DRYS shares. Vetr raised shares of DryShips from a “strong sell” rating to a “sell” rating and set a $16.24 price objective on the stock in a report on Monday, June 26th. ValuEngine cut shares of DryShips from a “hold” rating to a “sell” rating in a report on Friday, June 23rd.

The firm’s market cap is $4.66 million. The stock has a 50-day moving average price of $2.54 and a 200 day moving average price of $338.95.

DryShips (NASDAQ:DRYS) last released its quarterly earnings results on Wednesday, August 30th. The shipping company reported ($37.12) earnings per share (EPS) for the quarter. DryShips had a negative return on equity of 49.79% and a negative net margin of 218.76%. The business had revenue of $16.38 million during the quarter. Equities research analysts predict that DryShips Inc. will post $0.07 EPS for the current year.

Several large investors have recently added to or reduced their stakes in DRYS. Creative Planning grew its stake in shares of DryShips by 337.7% in the second quarter. Creative Planning now owns 486,717 shares of the shipping company’s stock worth $618,000 after purchasing an additional 375,511 shares in the last quarter. Citadel Advisors LLC bought a new position in shares of DryShips in the first quarter worth $281,000. BlueCrest Capital Management Ltd bought a new position in shares of DryShips in the first quarter worth $206,000. KCG Holdings Inc. grew its stake 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 worth $166,000 after purchasing an additional 64,168 shares in the last quarter. Finally, Virtu KCG Holdings LLC grew its stake in shares of 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 purchasing an additional 36,878 shares in the last quarter. 2.46% of the stock is owned by 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.

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