Performance Shipping Inc. (NASDAQ:PSHG – Get Rating) was the recipient of a large decline in short interest in the month of May. As of May 15th, there was short interest totalling 13,300 shares, a decline of 62.8% from the April 30th total of 35,800 shares. Approximately 0.6% of the shares of the company are sold short. Based on an average trading volume of 51,400 shares, the short-interest ratio is currently 0.3 days.
Shares of PSHG stock opened at $1.93 on Thursday. The stock has a market capitalization of $9.78 million, a PE ratio of -0.99 and a beta of 0.09. Performance Shipping has a 52-week low of $1.83 and a 52-week high of $6.14. The stock’s 50-day moving average price is $2.75 and its 200 day moving average price is $3.42. 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 earnings results on Friday, February 25th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.02). Performance Shipping had a negative return on equity of 10.67% and a negative net margin of 26.60%. The business had revenue of $5.50 million for the quarter, compared to analyst estimates of $5.10 million. Analysts expect that Performance Shipping will post -0.07 earnings per share for the current fiscal year.
PSHG has been the topic of several recent research reports. HC Wainwright dropped their price target on Performance Shipping from $11.00 to $6.00 in a research report on Wednesday, March 2nd. Zacks Investment Research upgraded Performance Shipping from a “sell” rating to a “hold” rating in a research report on Wednesday, May 4th.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wellington Shields Capital Management LLC increased its position in Performance Shipping by 100.0% during the 1st quarter. Wellington Shields Capital Management LLC now owns 20,000 shares of the company’s stock worth $60,000 after purchasing an additional 10,000 shares during the period. Citadel Advisors LLC acquired a new position in Performance Shipping during the 4th quarter worth approximately $79,000. Finally, Ruffer LLP increased its position in 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 purchasing an additional 70,572 shares during the period. Institutional investors own 4.63% of the company’s stock.
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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