The stock of DryShips Inc. (NASDAQ:DRYS) hit a new 52-week low and has $3.66 target or 14.00% below today’s $4.26 share price. The 6 months bearish chart indicates high risk for the $65.29M company. The 1-year low was reported on Nov, 1 by Barchart.com. If the $3.66 price target is reached, the company will be worth $9.14M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 50,070 shares traded hands or 23.81% up from the average. DryShips Inc. (NASDAQ:DRYS) has declined 96.67% since March 30, 2016 and is downtrending. It has underperformed by 99.69% the S&P500.
Analysts await DryShips Inc. (NASDAQ:DRYS) to report earnings on December, 5.
According to Zacks Investment Research, “Dryships Inc., based in Greece, is an owner and operator of drybulk carriers that operate worldwide.”
More notable recent DryShips Inc. (NASDAQ:DRYS) news were published by: Hellenicshippingnews.com which released: “Dryships Inc. Announces Vessel Sales” on October 31, 2016, also Marketwatch.com with their article: “DryShips Inc. Announces Registered Direct Offering” published on June 08, 2016, Marketwatch.com published: “DryShips Inc. Announces Closing of Registered Direct Offering” on June 15, 2016. More interesting news about DryShips Inc. (NASDAQ:DRYS) were released by: Seekingalpha.com and their article: “DryShips: The End Of The Road?” published on September 19, 2016 as well as Marketwired.com‘s news article titled: “DryShips Inc. Announces Deleveraging Transaction and Vessel Sale” with publication date: September 14, 2016.
DRYS Company Profile
DryShips, Inc., incorporated on October 9, 2004, is a holding company. The Firm owns drybulk carriers and offshore support vessels. The Firm operates through two divisions: the drybulk carrier and the offshore support. Under its drybulk segment, the Company operates as a well-known provider of drybulk commodities transportation services for the steel, electric utility, construction and agri-food industries. Under its offshore support segment, the Company operates as a well-known provider of offshore support services to the global offshore energy industry. The Firm owns a fleet of approximately 20 Panamax drybulk carriers, which have a combined deadweight tonnage (dwt) of approximately 1.5 million dwt and an average age of approximately 10 years, and six offshore supply vessels, comprising over two platform supply and four oil spill recovery vessels and have an average age of approximately 3.1 years.
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