Is DryShips Inc (NASDAQ:DRYS) Still In Danger?
TheStreet upgraded DryShips Inc (NASDAQ:DRYS) shares from a “sell” to a “hold” rating. The company has shown muscle in different areas. It has had a strong stock-price performance and also expanded its profit-margins. Contradictorily, the company’s net income has been on the decline and its return on equity has been dismal. In its recent quarter, DryShips Inc (NASDAQ:DRYS) reported plateaued earnings per share
Analysts are of the opinion that there will be a turnaround in 2014.
In Friday’s trading session, DryShips Inc (NASDAQ:DRYS) dropped by 5.70%. The opening price of the shares was $3.73 which rose to an intraday high of $3.75 and dropped to a close of $3.64. Approximately 19.93 million shares were traded on Friday and the average volume of shares traded over a 30 day period was $19.58 million. The 52-week low of the shares was $1.46 and the 52-week high was $4.00. The company has a market cap of $1.47 billion.
DryShips Inc (NASDAQ:DRYS) is essentially a holding company. It is involved in ocean-transportation services of dry-bulk cargoes and crude-oil across the world. It owns and operates drybulk carrier-vessels, oil-tankers and offshore-drilling services. It also owns and operates ultra deepwater drilling-units. As of 31 December 2011, it owned as well as operated 2, 5th-generation ultra deepwater, semi-submersible offshore-drilling rigs, called Eirik Raude and Leiv Eiriksson.
It also owned 4, 6th-generation, advanced-capability ultra deepwater drill-ships, the Ocean Rig Olympia, the Ocean Rig Poseidon, the Ocean Rig Corcovado and the Ocean Rig Mykonos. As of 31 December 2011, it owned & operated 4 Aframax tankers- Saga, Calida, Daytona and Belmar and Vilamoura, 1 Suezmax tanker. On 24 August 2011, the company bought all the OceanFreight Inc shares. In 2013 January it sold 2 of its tankers, Esperona and Blanca that were under construction at the Samsung Heavy Industries.