Performance Shipping Inc. (NASDAQ:PSHG – Get Rating) was the recipient of a significant increase in short interest in the month of April. As of April 30th, there was short interest totalling 35,800 shares, an increase of 468.3% from the April 15th total of 6,300 shares. Based on an average trading volume of 52,200 shares, the days-to-cover ratio is currently 0.7 days. Currently, 1.6% of the shares of the company are sold short.
Shares of NASDAQ:PSHG traded down $0.01 during trading hours on Thursday, hitting $2.34. The stock had a trading volume of 5 shares, compared to its average volume of 43,187. The stock’s fifty day simple moving average is $2.90 and its 200 day simple moving average is $3.61. Performance Shipping has a 1-year low of $2.22 and a 1-year high of $6.14. The firm has a market capitalization of $11.89 million, a price-to-earnings ratio of -1.21 and a beta of 0.09. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.00 and a current ratio of 1.28.
Performance Shipping (NASDAQ:PSHG – Get Rating) last announced 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 firm had revenue of $5.50 million during the quarter, compared to analyst estimates of $5.10 million. As a group, research analysts anticipate that Performance Shipping will post -0.07 EPS for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Wellington Shields Capital Management LLC bought a new stake in Performance Shipping during the fourth quarter worth approximately $37,000. Citadel Advisors LLC acquired a new position in shares of Performance Shipping during the 4th quarter valued at $79,000. Finally, Ruffer LLP raised its stake in shares of Performance Shipping by 201.6% in 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 in the last quarter. Institutional investors and hedge funds own 4.63% of the company’s stock.
Several research firms recently weighed in on PSHG. Zacks Investment Research upgraded shares of Performance Shipping from a “sell” rating to a “hold” rating in a research note on Wednesday, May 4th. HC Wainwright dropped their price target on shares of Performance Shipping from $11.00 to $6.00 in a research note on Wednesday, March 2nd.
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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