Performance Shipping (NASDAQ:PSHG – Get Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday, Zacks.com reports.
According to Zacks, “Performance Shipping Inc. is a provider of shipping transportation services through its ownership of containerships. The Company’s vessels are employed primarily on time charters with liner companies carrying containerized cargo along shipping routes. It owns and operates container vessels which include Post-Panamax and Panamax. Performance Shipping Inc., formerly known as Diana Containerships Inc., is based in Athens, Greece. “
Separately, HC Wainwright reduced their price target on Performance Shipping from $11.00 to $6.00 in a report on Wednesday, March 2nd.
Shares of NASDAQ PSHG opened at $2.82 on Tuesday. The company has a current ratio of 1.28, a quick ratio of 1.00 and a debt-to-equity ratio of 0.48. The company has a market cap of $14.33 million, a price-to-earnings ratio of -1.45 and a beta of 0.01. Performance Shipping has a 12 month low of $2.50 and a 12 month high of $6.14. The stock has a 50-day moving average price of $3.05 and a two-hundred day moving average price of $4.04.
Performance Shipping (NASDAQ:PSHG – Get Rating) last released its quarterly earnings results on Friday, February 25th. The company reported ($0.41) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.39) by ($0.02). The firm had revenue of $5.50 million for the quarter, compared to the consensus estimate of $5.10 million. Performance Shipping had a negative return on equity of 10.67% and a negative net margin of 26.60%. On average, sell-side analysts predict that Performance Shipping will post -0.07 earnings per share for the current year.
Several hedge funds have recently made changes to their positions in the company. Wellington Shields Capital Management LLC acquired a new stake in shares of Performance Shipping during the 4th quarter worth approximately $37,000. Citadel Advisors LLC acquired a new stake in shares of Performance Shipping during the 4th quarter worth approximately $79,000. Finally, Ruffer LLP grew 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 worth $405,000 after buying an additional 70,572 shares during the period. 4.32% of the stock is owned by 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. As of April 7, 2021, 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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