DryShips Inc. (DRYS) Short Interest Up 28.2% in May

DryShips Inc. (NASDAQ:DRYS) was the target of a significant increase in short interest during the month of May. As of May 31st, there was short interest totalling 2,293,691 shares, an increase of 28.2% from the May 15th total of 1,789,417 shares. Based on an average daily volume of 2,595,524 shares, the days-to-cover ratio is currently 0.9 days.

Large investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC purchased a new stake in DryShips during the first quarter valued at about $125,000. KCG Holdings Inc. raised its stake in DryShips by 175.0% in the first quarter. KCG Holdings Inc. now owns 100,832 shares of the shipping company’s stock valued at $166,000 after buying an additional 64,168 shares in the last quarter. Creative Planning raised its stake in DryShips by 498.9% in the first quarter. Creative Planning now owns 111,206 shares of the shipping company’s stock valued at $183,000 after buying an additional 92,637 shares in the last quarter. BlueCrest Capital Management Ltd purchased a new stake in DryShips during the first quarter valued at about $206,000. Finally, Citadel Advisors LLC purchased a new stake in DryShips during the first quarter valued at about $281,000. 9.99% of the stock is owned by institutional investors.

Separately, Vetr upgraded shares of DryShips from a “strong sell” rating to a “strong-buy” rating and set a $6.03 target price for the company in a research report on Monday, May 15th.

Shares of DryShips (NASDAQ DRYS) opened at 1.75 on Friday. The firm’s 50-day moving average is $2.41 and its 200 day moving average is $35.44. The company’s market capitalization is $17.44 million. DryShips has a 12 month low of $1.63 and a 12 month high of $22,848.03.

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DryShips Company Profile

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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