Performance Shipping Inc. (NASDAQ:PSHG – Get Rating) was the target of a large decline in short interest during the month of March. As of March 31st, there was short interest totalling 13,900 shares, a decline of 55.2% from the March 15th total of 31,000 shares. Based on an average daily trading volume, of 44,900 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.6% of the company’s stock are sold short.
PSHG stock traded up $0.16 on Friday, hitting $2.81. The company’s stock had a trading volume of 65,847 shares, compared to its average volume of 38,174. The firm has a 50 day moving average of $3.02 and a two-hundred day moving average of $3.98. Performance Shipping has a 1 year low of $2.50 and a 1 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.
Performance Shipping (NASDAQ:PSHG – Get Rating) last released its quarterly earnings results on Friday, February 25th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.02). Performance Shipping had a negative net margin of 26.60% and a negative return on equity of 10.67%. The business had revenue of $5.50 million during the quarter, compared to analysts’ expectations of $5.10 million. Sell-side analysts expect that Performance Shipping will post -0.07 earnings per share for the current year.
A number of institutional investors and hedge funds have recently made changes to their positions in PSHG. Ruffer LLP increased its stake in Performance Shipping by 201.6% in 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 during the period. Citadel Advisors LLC acquired a new position in Performance Shipping in the 4th quarter valued at $79,000. Finally, Wellington Shields Capital Management LLC acquired a new position in Performance Shipping in the 4th quarter valued at $37,000. 4.32% of the stock is currently owned by institutional investors.
Several brokerages have recently weighed in on PSHG. HC Wainwright reduced their price objective on shares of Performance Shipping from $11.00 to $6.00 in a research report on Wednesday, March 2nd. Zacks Investment Research upgraded shares of Performance Shipping from a “sell” rating to a “hold” rating in a research report on Tuesday.
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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