More than 17.9 million shares of the shipping company traded hands by 11:25 a.m. Tuesday, above the three-month average trading volume of about 13.1 million shares a day.
On Monday DryShips announced the results on its 2014 annual general meeting of shareholders. At the meeting the ship company's shareholders elected George Economou, Harry Kerames, and Vassilis Karamitsanis as Class A directors to serve until the 2017 shareholder meeting.
Exclusive Report: Jim Cramer's Best Stocks for 2015
The company also ratified the appointment of Ernst & Young (Hellas) Certified Auditors Accountants S.A. as the company's independent auditors for the fiscal year that ends on Dec. 31, 2014.
TheStreet Ratings team rates DRYSHIPS INC as a Hold with a ratings score of C-. TheStreet Ratings Team has this to say about their recommendation:
"We rate DRYSHIPS INC (DRYS) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, impressive record of earnings per share growth and compelling growth in net income. However, as a counter to these strengths, we also find weaknesses including generally higher debt management risk and a generally disappointing performance in the stock itself."