Shares of DryShips, Inc. (NASDAQ:DRYS) [Trend Analysis] swings enthusiastically in regular trading session, it an increase of 4.13% to close at $4.79. DryShips Inc. (DRYS ) recently reported that a company controlled by Mr. George Economou, our Chairman and CEO has become the lender of record under its $85.1 million Syndicated Loan previously arranged by HSH Nordbank. The remaining debt, of $16.5 million is associated with third party commercial lenders with which we have either reached or are in discussions to reach, an amicable settlement.
Executive Vice President and interim CFO, Mr. Anthony Kandylidis commented that they are very excited by commitment shown by Mr. George Economou to assist DryShips in its efforts to reach an agreement with its financing banks. With more than 90% of thier debt now in hands of thier founder, it is safe to conclude that the Company is no longer in any danger from its lenders exercising any of their rights under the Company’s existing defaults under their respective loan agreements. They are already in discussions with Mr. Economou to amend Company’s debt and regain compliance. In that respect, they hope to be in a position to announce further positive developments in the near future.
Moving forward to saw long-term intention, the experts calculate Return on Investment of -271.10%. The stock is going forward its fifty-two week low with 24.74% and lagging behind from its 52-week high price with -98.90%. DRYS last month stock price volatility remained 73.65%.
Shares of Safe Bulkers, Inc. (NYSE:SB) [Trend Analysis] runs in leading trade, it moving down -7.41% to traded at $1.25. The firm has price volatility of 10.69% for a week and 12.17% for a month. Safe Bulkers, Inc. (NYSE:SB) released that its public offering of 13,600,000 shares of its Common Stock, par value $0.001 per share, was priced at $1.10 per share. The gross proceeds from the public offering before the underwriting discount and other offering expenses are expected to be approximately $14,960,000. The offering is expected to close on or about December 9, 2016, subject to customary closing conditions.
Its beta stands at 2.30 times. Narrow down four to firm performance, its weekly performance was -17.76% and monthly performance was 0.01%. The stock price of SB is moving down from its 20 days moving average with -18.14% and isolated negatively from 50 days moving average with -13.27%.