Grindrod Shipping Holdings Ltd. (NASDAQ:GRIN) Short Interest Update

Grindrod Shipping Holdings Ltd. (NASDAQ:GRIN) was the recipient of a large growth in short interest in May. As of May 28th, there was short interest totalling 13,600 shares, a growth of 655.6% from the May 13th total of 1,800 shares. Based on an average daily volume of 46,300 shares, the short-interest ratio is currently 0.3 days. Currently, 0.1% of the company’s stock are sold short.

A hedge fund recently bought a new stake in Grindrod Shipping stock. Renaissance Technologies LLC bought a new stake in Grindrod Shipping Holdings Ltd. (NASDAQ:GRIN) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 28,400 shares of the company’s stock, valued at approximately $206,000. Renaissance Technologies LLC owned about 0.15% of Grindrod Shipping as of its most recent SEC filing.

Shares of Grindrod Shipping stock traded up $0.30 during trading on Friday, hitting $10.16. The stock had a trading volume of 363 shares, compared to its average volume of 44,234. The stock has a market capitalization of $195.58 million, a price-to-earnings ratio of -8.83 and a beta of 1.00. Grindrod Shipping has a 12 month low of $2.50 and a 12 month high of $9.93. The company’s 50-day moving average price is $7.98. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.63 and a current ratio of 0.70.

Separately, Zacks Investment Research raised Grindrod Shipping from a “hold” rating to a “strong-buy” rating and set a $10.00 price objective for the company in a report on Thursday.

About Grindrod Shipping

Grindrod Shipping Holdings Ltd., an international shipping company, owns, charters-in, and operates a fleet of dry bulk carriers and tankers worldwide. It operates a fleet of 23 owned dry bulk carriers and 8 long-term chartered-in dry bulk carriers that transport a range of bulk and breakbulk commodities, including ores, coal, grains, forestry products, steel products, and fertilizers.

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