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BDI climbing back upwards. Up almost 8% today to 730. China trade deal near completion. DRYS Smaller float. Numerous catalyst still in place for an immediate higher share price. Good Times ahead.
DRYS strong performance in 2018 Fiscal year as well as Q4. Strong Balance sheet. Debt roughly only a 1/3 of its financing compared to higher Debt level in other Peer shippers. Arguably, the best Drybulk shipper as demonstrated by current performance. BDI climbing back upwards. China trade deal near completion. Smaller float. You Bet, fundamentals no less of Delphic insights show numerous catalyst in place for an immediate higher share price. Good Times, indeed.
Cede & co owns the US DRYS float in the market administered by your brokerage firm even though contractual rights were assigned to you on your holdings.
DCIX is undergoing Kalani Dilution, and Reverse Splitting. Don’t be a Bagholder tomorrow like most folks were in November.
TOPS --is undergoing Dilution.
NMM --high Debt $512 Million -Only $58 Million in cash, highly levered-Cannot trust the CEO AF with a track record of pulling the rug from under investors. Hx of Cancelling share buybacks to purchase ships. Numerous recent share dilution to purchase more ships while share price has declined by more than 50% in past year Alone. Very risky indeed, folks.
DRYS is NOT reverse splitting. Just plain fearmongering to get folks to sell shares to buy in cheap so that they can do more profit taking as the expense of current shareholders. Put a sell order on your shares so your shares are not used to short the stock.
Good Investing,
ValuHunter
The stock is getting ready to consolidate for the next leg up. Shorts are attacking the stocks as usual which will make the next leg up even more interesting, if you know what I mean.
The idea that GE is shorting his stock borders on stupidity. Let's say he shorted all 1 million share that traded today, and the trades you're seeing on L2 is fake because MM are in on the take, he would make $885,000. That is a piss in the part for a Billionaire owner. If you think small like this you are not going to make a lot of money trading stocks.
The second idea that he is walking it down before the ER is far fetched. Another conspiracy theory. The whole idea is for the stock to continue to go up and ER serves as a bigger catalyst for pop. Just another silly idea.
Do not sell your shares, the stock is showing its ability to run despite some profit taking and a short attack.
Good Investing,
ValuHunter
Based on recent 13 D/A filing today, DRYS has 15.5 Million tradeable float after 1.1 Million share buyback. As of 12/11/18, Roughly 2.3 Million shares of the tradeable float are short.
TaxiCaT,
The preceding post in its context is self-explanatory.
ValuHunter
DD,
As long as there is support, the Sky is the limit.
King,
You calling it. One up on the Street, we know our stock. Expect some consolidation, when running, Do not sell, expecting at least 5 halts. Keep getting higher after each halt. Tilray like as more momentum, volume, and support show up each time as word get around. DRYS float as become much much smaller than Tilray as mentioned by Net-Man today even excluding the short squeeze and with a great ascending triangle as alluded by I-man, this multiday pop should be that much higher.
Good Investing,
ValuHunter
Break resistance at 5.95, 6.15, and 6.21. Trump trade deal with Xi, no telling how high this can fly.
Good Investing,
ValuHunter
DRYS is currently experiencing another $50 Million Share Buyback AGAIN
DCIX is currently experiencing Kalani Dilution that is why all the volume in the world is not denting the share price.
TOPS is currently experiencing Warrant Exercise Dilution.
DRYS for 3rd Quarter Reports:
Revenue $49.6 Million
EBITDA $17.2 Million
Net Income $11.6 Million
DRYS is arguably the best Dry Bulker with the strongest balance sheet and cash flow. Expect share price to surpass $10 easily.
Also, DRYS is strong Buy based on technical set up. Nice cup and handle forming for a while. Globally stocks are at an all time high. S&P 500 at all time high. US Economy growing with better trade deals including China in the works. Great for shipping. BDI up 16% in past 2 weeks. BOOM time coming soon.
Interesting thought on this…But per Bond Indentures besides maintaining adequate financial leverage and liquidity ratios, GE must beneficially continue to own 50% or more of outstanding shares or Covenant violation would occur.
Sincerely doubt shorting occurring while purchasing shares, as SEC watching this for shenanigans like you alluded to.
As for DRYS Balance sheet, if the VLGC’s sale is made as scheduled, the company is sitting on over $300 Million in cash after repaying the $141.6 million Credit Facility to go out and buy other ships. Then Book Value would be north of $10 per share which makes borrowing that much easier. Also, the Heidmar stake can be sold for cash, if needed.
The Float decreased by 33% in less than a year. The Float went from 31.9 Million Shares as of 11/2017 to 21.3 Million Shares as of 10/1/2018. Only 2/3 of the pie left folks. Hence, the increase in share price due to the smaller float. Not enough shares to go around with the Float Buyout. Of note, roughly 2% of that 21.3 Million Shares are also owned by Institutional Investors, Banks, & Hedge Funds and are to some extent also not in play on a daily basis.
Yes, over 1.3 million shares repurchased on low volume. Smaller Float of 22.6 million. Float Buyout in Progress. Catalyst in place for this run.
DRYS. Let's unlock the value in this cash cow. Run Baby Run!!! If Tilray can do it, so can we. Run Baby Run!!!
As expected, For the second quarter of 2018, the Company reported Revenue of $43.3 Million with net income of $3.6 million, or $0.04 basic and diluted earnings per share.
Adjusted EBITDA slightly increased quarter over quarter of $13.3 million for the second quarter of 2018 relative to Adjusted EBITDA of $12.9 million for the first quarter of 2018 and from Adjusted EBITDA of $9.9 million for the fourth quarter of 2017- An increasing trend.
Cash and cash equivalents: approximately $155.4 million (or $1.57 per share)
Book value of vessels: approximately $893.2 million (or $9.05 per share)
Debt outstanding balance: approximately $434.1 million (or $4.40 per share)
Repurchased a total of 5,565,992 shares of its common stock for an aggregate amount of $23.1 million, Number of Shares Outstanding: 98,708,716
Heidmar Stake contributed $9.7 million or $0.09 per share in Q4 2017 still to contribute to earnings.
Overall, very positive quarter over quarter growth for DRYS with increasing EBITDA.
Today BDI 1774- A 52 weeks high.
At one point, we were the 4th largest owner of this stock behind GE, Morgan, and Deutsche bank. Since then more Hedge Funds have arrived. Great stock!!!
Couldn’t disagree more with the timing and paid usual suspect articles and comments written by paid pumpers and paid crashers to hurt mom and pop retail investors- instead of making them profit from this stock. Book Value is an accounting construct and is meaningless in valuation.
As Peter Lynch says do your own work and then make up your mind. We are Long. We continue to own this stock and profit largely from it. With the completion of the recent shareholder meeting, by voted ownership size, GE continues to be Bullish. Hint, hint...we are extremely BULLISH!
Good Investing,
ValuHunter
I-Man,
Besides DRYS strong fundamentals, this stock has the mystique of producing November Rain.??
ValuHunter
Net-Man,
DRYS continues to have the best balance sheet in the shipping industry.That would mean DRYS is trading at only 1.2 times CASH $$$ only? How ridiculously cheap this stock is? Certainly, a candidate for a buyout or privatization or a Hedge Fund taking the rest of the Float cheaply from shareholders who really don’t know the value of what they own. That would seriously call in to question DRYS potential NAV $8.45 as stated by the company way back in February. Certainly times have changed, the NAV is already way higher than that.
ValuHunter
More cash for DRYS. The FMV for the 4 VLGC is approximately $175 Million with aggregate Earnings Backlog of $300 Million under fixed rate time charter till 2028. Hence, in the sale of these vessels a premium to carrying value should be obtained for the future earnings plus getting rid of the old Panamex before regulatory compliance for these vessels take effect, while modernizing the fleet is a good idea.
This sale should provide over $200 Million in extra cash for DRYS to acquire newer vessels for dry bulk shipping and to repurchase shares.
Why dry bulk? Dry bulk shipping rates are getting higher as attested by the BDI upward trajectory. Dry bulkers are expected to account for 5.2 Billion Tons (40%) of all seaborne trade in 2018. Despite the trade spat, there no slowing down of Chinese demand for raw materials in its growing economy. In fact, vessel port congestion due to a spat may actually help become a driver for rates on the supply side easing overcapacity. DRYS seem to be well positioned for this run up.
Also, there is nothing unusual about acquiring assets via privately owned companies (SPII, Sierra, Mountain) in the shipping industry or has it pertains to DRYS.
As of Today, Net Fair Market Value less Debt of the Drybulk Segment, Tanker Segment, Gas Segment per share including Cash at hand i.e DRYS hard assets and cash, is just over $10 per share. This is giving $0 for “real” Dividends back in your pocket, Earnings, 2 PSV and 4 OSRV vessels currently laid up, or goodwill as a going concern. Indeed, deeply Undervalued.
In the psychology of investing, GE is greedy when most others are fearful. He is keenly aware of what is happening to the DRYS share price. This “fear factor” allows him to buy shares at a even bigger discount enriching himself at the expense of the “fearful” while also getting a fatter dividend check to boot through no fault of his own. MM are keenly aware of this discrepancy, day trader vs. owner mismatch. It is how they profit and stay in business. The next run, shorts will get wiped out just to painfully do it all again, spread their sadistic pain of “ I lost a lot of money” and the “next reverse split will wipe you out” and be “fearful”. Just perpetuating the myth. That aside, DRYS fundamentals with catalyst (Share Repurchases) is all you’ve got, and will ultimately determine a higher share price, irregardless of the fear factor.
ValuHunter
I agree, This stock is still undervalued with catalysts in place to get that share price higher. GE is aligned with shareholders due to his large ownership( 73.1%). He wants the share price Higher as he can use it to purchase other Assets or even for Acquisitions due to DRYS strong balance sheet. The DRYS's Heidmar stake will be contributing to Net Income. Currently, the best value for his buck is to Repurchase these yet Undervalued shares at still a large discount. As shares are repurchased, the float shrinks, leading to even higher share prices.
ValuHunter
This is good news for DRYS. The spinoff would have taken the Revenue and Earning Power of these 4 chartered VLGC’s (for the next 9 ½ years) away from DRYS. This catalyst to a higher share price remains in place inside the parent company DRYS. GE is getting rid of the old Panamex’s for cash while continuing to Repurchase Shares at a large discount to value. That being said, nothing is being paid for these future cash flows and earnings for this business. If bought at these prices, it’s free. DRYS has the cleanest balance sheet of all shippers with a large discount to value as attested by the recent run up on the share price. He could conceivably take this company Private at these the still low market prices. You don’t have to be an “expert” on maritime shipping industry to figure this out. Common sense, tells you the catalyst for value and share price moving higher is in place with Share Repurchases, hence, the thesis for even higher share prices is intact.
Good Investing,
Valuhunter
Solid Quarter for DRYS again. Cash Flow positive. Adjusted EBITDA
$12.9 million. Book Value $ 8 per share. Net Income positive $ 0.8 million.
Awaiting DGAS spinoff UPDATE.
DRYS post $11.5 Million Net profit for 4th quarter, $0.11 EPS, Book value $ 7.88 per share.
Revenue was $ 42.6 Million for Q4.
EBITDA almost $ 10 Million.
Heidmar Holding LLC will continue to be a recurrent earning stream for the business. SEC will clear Drys of any wrong doing, and the ambulance chasing lawyers will have to take a hike.
Good Investing,
ValuHunter
DRYS post $11.5 Million Net profit for 4th quarter, $0.11 EPS, Book value $ 7.88 per share. DRYS Kicked ass this quarter.
Drys announced today that it will release its results for the fourth quarter 2017 after the market closes in New York on Tuesday February 27, 2018.
For this stock, it Looks like November 2016 all over again.
Smart decision by GE and management to unlocking value for shareholders and DRYS by spinning off Gas Ships. The market will recognizes this and bid up the price, volume will continue to jump, shares will outperform the S&P 500. WOW!!!
Stock is trading below it's liquidation value for it's ships and accounting book value relative to current prices. The market recognizes this and is trading up 25% of yesterday's closing price after a smart decision by GE and management to pay a dividend, and buy for shareholders and themselves increasing their value in the business. With expected Q4 gross profits exceeding $40 million, reporting this month, BDI still above 1000, I agree, this stock should NOT be sold for less than $8 by current holders.
At these cheap prices, absolutely yes.
Net-Man,
That is correct. North of $40 million in estimated Q4 revenue.
ValuHunter
That's OK Net-Man. You're Welcome.
Net-Man,
Earnings came in as expected, it included a one time noncash charge of
$7.6 million for the Private Placement for near break even EBITDA.
As a review of the company's Balance Sheet and associated Notes both Note 1 and Note 8 states, as of April 5th, 2016, the company NO longer holds an equity interest in ORIG.
Furthermore, Drys gave 12 million shares to SPII for a 49% stake in Heidmar whose fair value at the time of acquisition date 8/29/17 was
$34 million. Going forward, Gains and losses from the change in Fair Value of Heidmar stake will be recognized in income by "inputs that are not corroborated by market data".
In essence, regardless of interest rate spread and curves, embedded call and put option dates and prices, stock price, etc. Essentially, a GAAP recognized spike to earnings at will with a 70 % owner who is now long on his company.
ValuHunter