DryShips (DRYS) Stock

DryShips (DRYS) – DryShips stock is listed on the NASDAQ and trades under the ticker symbol “DRYS.”  While DryShips (DRYS) only trades at $0.15 right now, it was once a momentum stock in 2006, 2007, and 2008.  The bulk shipping stocks were red hot and DRYS was the leader of the pack.  However, in late 2008, amist the financial crsis, DRYS stock crashed and has never recovered.  The company is deep in debt and is at risk of going bankrupt.

DryShips (DRYS) Price Target – DryShips (DRYS) 2016 Price Target is currently $0.05 per share

What is DryShips?

DryShips Inc. provides ocean transportation services for drybulk and petroleum cargoes, and offshore deepwater drilling services. The company operates through Drybulk, Tanker, and Drilling segments. The Drybulk segment provides drybulk commodities transportation services for the steel, electric utility, construction, and agri-food industries. The Drilling segment offers ultra deep water drilling services. The Tanker segment provides transportation services of crude and refined petroleum cargoes. As of February 25, 2015, it owned a fleet of 39 drybulk carriers comprising 13 Capesize, 24 Panamax, and 2 Supramax carriers with a combined deadweight tonnage of approximately 4.3 million tons; 10 tankers, including 4 Suezmax and 6 Aframax tankers with a combined deadweight tonnage of approximately 1.3 million tons; and 13 offshore ultra deepwater drilling units comprising 2 ultra deepwater semisubmersible drilling rigs and 11 ultra deepwater drillships. The company was founded in 2004 and is based in Athens, Greece.