Performance Shipping Inc. (NASDAQ:PSHG) Short Interest Up 618.5% in September

Performance Shipping Inc. (NASDAQ:PSHG) saw a large growth in short interest during the month of September. As of September 30th, there was short interest totalling 19,400 shares, a growth of 618.5% from the September 15th total of 2,700 shares. Approximately 0.8% of the shares of the stock are short sold. Based on an average trading volume of 36,300 shares, the short-interest ratio is presently 0.5 days.

A number of large investors have recently modified their holdings of the stock. Marquette Asset Management LLC purchased a new position in Performance Shipping in the 2nd quarter worth $78,000. Citadel Advisors LLC purchased a new position in Performance Shipping in the 1st quarter worth $75,000. Finally, Renaissance Technologies LLC raised its position in Performance Shipping by 18.1% in the 1st quarter. Renaissance Technologies LLC now owns 101,295 shares of the company’s stock worth $564,000 after purchasing an additional 15,512 shares during the period. Institutional investors own 4.48% of the company’s stock.

A number of analysts have recently issued reports on PSHG shares. HC Wainwright reaffirmed a “buy” rating and set a $11.00 price objective on shares of Performance Shipping in a report on Monday, August 2nd. Zacks Investment Research raised shares of Performance Shipping from a “sell” rating to a “hold” rating in a report on Tuesday, October 5th.

NASDAQ PSHG opened at $5.89 on Thursday. Performance Shipping has a 52-week low of $3.98 and a 52-week high of $8.11. The company has a debt-to-equity ratio of 0.59, a quick ratio of 2.44 and a current ratio of 2.63. The company has a market capitalization of $29.94 million, a P/E ratio of -3.85 and a beta of 0.51. The company has a fifty day moving average of $5.02 and a 200-day moving average of $5.01.

Performance Shipping (NASDAQ:PSHG) last issued its earnings results on Friday, July 30th. The company reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.05). The business had revenue of $9.12 million during the quarter, compared to analysts’ expectations of $4.90 million. Performance Shipping had a negative return on equity of 8.02% and a negative net margin of 22.35%. As a group, analysts forecast that Performance Shipping will post -1.98 EPS for the current fiscal year.

About Performance Shipping

Performance Shipping, Inc engages in the provision of shipping transportation services through its ownership of containerships. Its vessels are employed on time charters with liner companies carrying containerized cargo along worldwide shipping routes. The firm operates through the following segments: Tankers Vessels and Containers Vessels.

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