Performance Shipping (NASDAQ:PSHG – Get Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Monday, 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 lowered their target price on Performance Shipping from $11.00 to $6.00 in a report on Wednesday, March 2nd.
PSHG stock traded up $0.03 during trading hours on Monday, reaching $2.80. 458 shares of the stock were exchanged, compared to its average volume of 46,739. The firm’s 50-day moving average is $3.00 and its 200-day moving average is $3.86. The company has a market cap of $14.23 million, a price-to-earnings ratio of -1.44 and a beta of 0.01. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.28 and a quick ratio of 1.00. Performance Shipping has a 12 month low of $2.50 and a 12 month high of $6.14.
Performance Shipping (NASDAQ:PSHG – Get Rating) last released its earnings results on Friday, February 25th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the Zacks’ 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%. As a group, equities research analysts forecast that Performance Shipping will post -0.07 earnings per share for the current year.
Several institutional investors have recently bought and sold shares of the company. Wellington Shields Capital Management LLC acquired a new position in shares of Performance Shipping during the 4th quarter worth about $37,000. Citadel Advisors LLC acquired a new position in shares of Performance Shipping during the 4th quarter worth about $79,000. Finally, Ruffer LLP boosted its stake 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 last quarter. Institutional investors own 4.32% of the company’s stock.
About Performance Shipping (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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