Hottest Small Dry-Bulker: OceanFreight
NEW YORK (TheStreet) -- This week we asked or readers to register their opinions on the smaller players in the dry-bulk world: those shippers with tiny market caps (each of the four stocks on our list save one trades for under $2 a share) and tiny fleets, but who may nonetheless show signs of growing into the next DryShips.
As it turns out, the vote was a tight race. None of the contenders won a majority, but two stood out from the rest.
Taking the trophy, with 33.7% of the vote, was [drum roll] OceanFreight (OCNF), of Athens, which owns one capesize and eight panamax dry-bulk vessels, as well as four tanker ships. The company has trailing 12-month revenue of $134.7 million, with about $105 million in cash and $289 million in debt, as of the end of the most-recent quarter.
The choice was relevant. OceanFreight executives have evidently been conducting some schmoozing of late. The company's operating chief, Demetrius Nemes, will ring the opening bell on the Nasdaq Exchange on Monday. Doubtless he'll have a few sit-downs with investors and analysts while in the city, giving his OceanFreight spiel. Prescient readers of TheStreet appear to be familiar with it already.In a close second-place, Paragon Shipping (PRGN) took 30.5% of your clicks. Based in Voula, Greece, the company doesn't own any of the huge capesize vessels, but does run a dozen ships in a variety of smaller classes, generating about $163 million in revenue over the last 12 months. The remaining three of our candidates ran close together, with FreeSeas (FREE) garnering 14.7%, Top Ships (TOPS) 11.5%, and Euroseas (ESEA), bringing up the rear, with 9.6%. -- Written by Scott Eden in New York Follow TheStreet.com on Twitter and become a fan on Facebook.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV