DryShips Inc (fka DRYS)

[lecorb]

DryShips Up 10.4%, Penny Stock Attracts Attention (DRYS)

Dec 18, 2014 (Market movers via COMTEX) -- DryShips (NASDAQ:DRYS) is one of today's best performing penny stocks, up 10.4% to $0.90 on 1.2x average daily volume. Thus far today, DryShips has traded 12.3 million shares, vs. average volume of 10.0 million shares per day. The stock has outperformed the Dow (11.0% to the Dow's 1.8%) and outperformed the S&P 500 (11.0% to the S&P's 1.7%) during today's trading.

DryShips share prices have moved between a 52-week high of $5.00 and a 52-week low of $0.76 and are now trading 18% above that low price at $0.90 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 5.7% while the 200-day MA has slid 1.7%.

DryShips Inc. owns and operates drybulk carriers. Commodities transported by the Company consist of major bulks, which include iron ore, coal, and grain, and minor bulks such as bauxite, phosphate and steel products. The Company also owns Ultra Deep Water Rigs.

DryShips (NASDAQ:DRYS) has potential upside of 79.9% based on a current price of $0.90 and analysts' consensus price target of $1.62. DryShips shares should first meet resistance at the 50-day moving average (MA) of $1.43 and find additional resistance at the 200-day MA of $2.69.

http://www.zacks.com/research/get_news.php?id=352z8078