Performance Shipping Inc. (NASDAQ:PSHG – Get Rating) was the recipient of a significant increase in short interest in the month of May. As of May 31st, there was short interest totalling 214,400 shares, an increase of 1,512.0% from the May 15th total of 13,300 shares. Based on an average daily volume of 540,400 shares, the days-to-cover ratio is presently 0.4 days.
PSHG has been the subject of a number of research analyst reports. HC Wainwright dropped their price target on Performance Shipping from $11.00 to $6.00 in a research note on Wednesday, March 2nd. Zacks Investment Research raised Performance Shipping from a “sell” rating to a “hold” rating in a research report on Wednesday, May 4th.
Shares of Performance Shipping stock traded down $0.04 during trading hours on Friday, reaching $0.64. 2,768 shares of the stock traded hands, compared to its average volume of 1,621,635. The company has a 50 day moving average price of $2.25 and a 200 day moving average price of $3.10. The firm has a market capitalization of $3.26 million, a price-to-earnings ratio of -0.35 and a beta of 0.13. Performance Shipping has a one year low of $0.62 and a one year high of $6.14. The company has a quick ratio of 1.00, a current ratio of 1.28 and a debt-to-equity ratio of 0.48.
Several hedge funds have recently bought and sold shares of PSHG. Ruffer LLP lifted its position in shares of Performance Shipping by 201.6% during the 4th quarter. Ruffer LLP now owns 105,572 shares of the company’s stock valued at $405,000 after buying an additional 70,572 shares in the last quarter. Citadel Advisors LLC purchased a new position in shares of Performance Shipping during the 4th quarter valued at about $79,000. Finally, Wellington Shields Capital Management LLC purchased a new position in shares of Performance Shipping during the 4th quarter valued at about $37,000. 4.63% of the stock is currently owned by hedge funds and other institutional investors.
Performance Shipping Company Profile (Get Rating)
Performance Shipping Inc, through its subsidiaries, provides shipping transportation services through its ownership of tanker vessels worldwide. It owned and operated five Aframax tanker vessels with a combined carrying capacity of 546,094 dwt. The company was incorporated in 2010 and is based in Athens, Greece.
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