Release

Today’s Research Reports on Trending Tickers: DryShips and Seadrill

Strong performances from banking and technology stocks helped lift the markets further into the green on Tuesday. The Dow Jones Industrial Average gained 0.16 percent to close at 24,640.45, while the S&P 500 Index increased 0.26 percent to close at 2,662.94. The tech-heavy Nasdaq Composite Index rose 0.45 percent to close at 7,013.51. U.S. markets have experienced steep declines last week on rising interest rates and inflation concerns.

“If inflation continues to pick up, the equity market will continue to struggle from here. If worries about inflation come true, the problem is that central banks will have no choice but to raise rates, which won’t just have an impact on the equity markets but also on the real economy,” said Nick Clay, the lead manager of the BNY Mellon Global Equity Higher Income Fund, according to MarketWatch.

RDI Initiates Coverage on:

DryShips Inc.
https://rdinvesting.com/news/?ticker=DRYS

Seadrill Ltd.
https://rdinvesting.com/news/?ticker=SDRL

DryShips’ stock jumped 9.97% Tuesday, to close the day at $3.75. The stock recorded a trading volume of 2,498,468 shares, which was above its three months average volume of 2,238,750 shares. In the last year, DryShips’ shares have traded in a range of 0.98 – 4,870.59. The share price has gained 282.65% from its 52 week low. The company’s shares are currently trading above their 200-day moving average. The stock’s 50-day moving average of $3.55 is greater than its 200-day moving average of $3.31. Shares of DryShips have fallen roughly 1.06 percent in the past month and are up 6.23 percent year-to-date.

Access RDI’s DryShips Inc. Research Report at:
https://rdinvesting.com/news/?ticker=DRYS

On Tuesday, shares of Seadrill recorded a trading volume of 2,212,574 shares, which was below the three months average volume of 4,252,625 shares. The stock ended the day 1.21% up at 0.25. The share price has gained 66.67% from its 52 week low with a 52 week trading range of 0.15 – 2.19. The company’s shares are currently trading below their 200-day moving average. The stock’s 50-day moving average of $0.26 is below its 200-day moving average of $0.29. Shares of Seadrill have fallen roughly 11.97 percent in the past month and are up 8.08 percent year-to-date.  

Access RDI’s Seadrill Ltd. Research Report at:
https://rdinvesting.com/news/?ticker=SDRL

Our Actionable Research on DryShips Inc. (NASDAQ:DRYS) and Seadrill Ltd. (NYSE:SDRL) can be downloaded free of charge at Research Driven Investing.

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Disclaimer: This article is written by an independent contributor of RDInvesting.com and Nadia Noorani, a CFA® charter holder, has provided necessary guidance in preparing the document templates. RDInvesting.com is neither a registered broker dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.

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