DryShips Inc. (DRYS) lost ground during morning trading on April 21 to make it one of the worst performers amongst all NYSE and NASDAQ listed stocks in the services sector halfway through the trading day. At the lunch break, shares of DRYS have fallen 4.73% to $1.61 after closing the day prior at $1.69. So far, the stock has traded as high as $1.71 and as low as $1.61. Today’s decline has come with about 4.5 million shares changing hands, compared to an average 30-day volume of 10.69 million for DryShips Inc.. The price is currently below the 30-day volume weighted average price of $1.65 for DRYS.
The share depreciation gives the company a market capitalization of $16.06 million based upon 9.5 million shares outstanding. It also means that DRYS has a price-to-book ratio of 1.57:1.
In the past 52 weeks, shares of DRYS have traded as low as $1.62 and as high as $8908.8. Technical traders will take note that at $1.61, shares of DRYS are trading below their 200-day MA at $256.38 and below their 50-day MA at $7.49. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding below them is typically regarded as bearish.
Who is DRYS?
DryShips Inc is provider of ocean transportation services for drybulk & petroleum cargoes through its ownership & operation of drybulk carrier vessels & oil tankers. It also provides offshore drilling services. The company’s 128 employees are led by CEO George Economou from the corporate headquarters at 109 Kifisias Avenue and Sina Street in Marousi, Athens.
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