DryShips Inc (NASDAQ:DRYS) docks firmly in options yard
There was a great deal of unusual options-trading activity around DryShips Inc (NASDAQ:DRYS) on Monday. ARN reports that stock-investors bought 11,146 call-options on DRYS. This is a rise if 198% in comparison to the normal volume of 3,745 call-options. Numerous analysts have commented on the DryShips stock lately.
UBS AG analysts set an “outperform” rating on the company’s stock and mentioned that this move was an evaluation-call. Imperial Capital analysts set an “outperform” rating on the stock, on Thursday and Zacks analysts reiterated their “neutral” rating on the stock on 24 June and have set a $2.00 price-target on the stock.
Five equity research-analysts have assigned a “hold” rating on DRYS stock while 3 have assigned a “buy” rating. The average rating on the company is a “hold” and the
average price-target is $2.20.
The company had last released its earnings-data on 7 August. It reported earnings per share of $0.05 in the quarter which topped analysts’ projections of $0.07. The revenue for the quarter came in at $336.10M in comparison to the average analyst estimate of $329.57M. In the same quarter in 2012, the company had posted earnings per share of $0.05. There was no change in the company’s y-o-y quarterly revenue. Analysts are projecting that the company will post an EPS of $0.25 for the current financial year.
In Monday’s trading session DRYS stock rose 7.11%. The opening price of the shares was $2.28 which touched an intraday high of $2.49 and closed at $2.41. More than 17.68M shares were traded on Monday while the average volume of shares traded over 30 days was 7.31 million. The company has a market cap of $973.07 million.
DryShips Inc is a holding-company that is involved in ocean-transportation services of crude oil and dry bulk cargoes, globally. It owns and operates oil tankers and dry-bulk vessels as well as offshore drilling services via its ultra deepwater drilling units.