Stock of The Day: DryShips Inc. Can’t Burn Your Long Portfolio. Has Another Strong Session

Stock of The Day: DryShips Inc. Can't Burn Your Long Portfolio. Has Another Strong Session

The stock of DryShips Inc. (NASDAQ:DRYS) is a huge mover today! The stock increased 19.29% or $0.76 during the last trading session, hitting $4.7. About 195,439 shares traded hands or 377.59% up from the average. DryShips Inc. (NASDAQ:DRYS) has declined 55.63% since April 1, 2016 and is downtrending. It has underperformed by 56.84% the S&P500.
The move comes after 9 months positive chart setup for the $1.03 billion company. It was reported on Nov, 3 by Barchart.com. We have $7.43 PT which if reached, will make NASDAQ:DRYS worth $597.40 million more.

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: Marketwatch.com which released: “DryShips Inc. Announces Closing of Registered Direct Offering” on June 15, 2016, also Marketwatch.com with their article: “DryShips Inc. Announces Registered Direct Offering” published on June 08, 2016, Seekingalpha.com published: “DryShips: The End Of The Road?” on September 19, 2016. More interesting news about DryShips Inc. (NASDAQ:DRYS) were released by: Marketwired.com and their article: “DryShips Inc. Announces Deleveraging Transaction and Vessel Sale” published on September 14, 2016 as well as Marketwired.com‘s news article titled: “DryShips Inc. Announces Vessel Sale” with publication date: September 22, 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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