Dryships has been warned of being de-listed from Nasdaq if its share price does not increase.

Dryships said it had received notice from Nasdaq that its closing share price had been under the minimum $1.00 per share required for the previous consecutive 30 business days.

The company has a 180-day grace period in which to rectify the situation, which it says it intends to do.

“The company intends to monitor the closing bid price of its common stock between now and October 12, 2015 and is considering its options, including a reverse stock split, in order to regain compliance with the Nasdaq Global Select Market minimum bid price requirement,” Dryships said.

Dryships shares closed at $0.79 on Wednesday.