Analysts praised ORIG with $25 per share. For dry bulk ship and tanker, DRYS vessels value is about 2.2 billion. Vessel debt is about 1 billion. In other words, if DRYS sell all her dry bulk and oil tanker vessels today, she should bank about 1.2 billion into her pocket.
Using $25 ORIG ( DRYS owns 59%)price target, and 1.2 billion net, DRYS stock should be worth $7.9 per share.
The equation is as follows:
25*0.59*133/400+1200/400 = 7.9 ( 133 million ORIG and 400 million DRYS outstanding )
$7.90 if everything fell into place perfectly-DRYS has more than 400 million shares outstanding and you forgot the 700 million convertible debt.
More like $4 for the 59% of ORIG stock owned- of course once the market fairly values ORIG. And $1-$2 for the tanker and bulker segment. $5 to $6